Friday, September 28, 2012

CCI probing the Real estate Developers


Here is an article in Economic times;-


Please read carefully the highlighted part of the article, The CCI chief explaining how the Builder-buyer agreements are one sided. The CCI is currently probing many real estate developers, would request you all to inform CCI if your agreements are drafted in the same fashion, where the developer puts onus of all responsibilities & liabilities on the shoulder of its customers & relinquishes himself from any/all responsibility/liability towards developing as per what is shown to the customer at the time of sale.
Please post a copy of your agreements @

 A.K. Chauhan, IRS
     Director General,
      E-mail: cci-akchauhan@nic.in
     Tel. No. : 91-11-26172895, 26701671
     Fax No. : 91-11-26107428





 Ashok Chawla
    Chairperson
    E-mail: cci-chairman@nic.in
    Tel No. 91-11-23704647     Fax No.23704649



Happy reading:-

Tyre sector order in next 10-15 days; scanner on newer sectors like healthcare: CCI chief Ashok Chawla

Chawla said, "CCI is presently in the process of looking at newer activities like the health sector and the health infrastructure sector in terms of new technologies."
Chawla said, "CCI is presently in the process of looking at newer activities like the health sector and the health infrastructure sector in terms of new technologies."

Three months after shaking up the cement sector by slapping a penalty in excess of Rs 6,000 crore on 11 cement firms, the country's monopoly watchdog, theCompetition Commission of India (CCI), is on the brink of passing yet another eagerly awaited order on the tyre manufacturing sector. In an exclusive interview withET NOWCCI chairman Ashok Chawla said, "We are now in the stage of finalising the order. So, while it's difficult to give an exact timeline, I believe we should be able to put out the order in the next 10-15 days."

In the past, the CCI has probed sectors ranging fromentertainment to aviation. Chawla said, "CCI is presently in the process of looking at newer activities like the health sector and the health infrastructure sector in terms of new technologies. (This) is a dynamic and ongoing process." But it's the real estate sector that is facing the brunt of an extensive nationwide scrutiny by the CCI following complaints of collusion.

Chawla elaborated on the realty probe and said, "Basically, what is being alleged is that the terms of the agreement between the developer and buyer are one-sided and the terms are loaded in favour of the builder. The commercial clauses are such that the buyer ends up carrying a commercial liability disproportionate to the transaction and certainly more than what the builder has to bear. For instance, if there is a delay on part of the buyer in paying the builder, the buyer has to pay a certain amount of interest to the builder. But if the project gets delayed and the contract is provided for compensation to the buyer, the interest paid by the builder will be much lesser."
The CCI is also waiting for responses from auto companies and OEM's which were found guilty of anti-competitive practices in its initial investigation report. "The report brings out the fact that there are anti-competitive practices in terms of spare parts; the way they are tied in terms of where they should be brought from and in terms of their pricing. Auto companies have to come up with their defence and after that the CCI will decide the matter," Chawla added.

Chawla is also quick to point out that the CCI is ready to provide any further inputs or clarification to the COMPAT (Competition Appellate Tribunal) which is hearing appeals filed against the CCI's order on the cement sector. In a recent interim order, the COMPAT has directed the CCI to defer penalties on cement firms till October 11.

20 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. When an agent provides all of these services it is referred to as being a full service listing arrangement. While full service listing arrangements are the most common type of listing arrangement, they are not the only option anymore. singapore new launch condo

    ReplyDelete
  3. Good post but I was wondering if you could write a litte more on this subject? I’d be very thankful if you could elaborate a little bit further. Appreciate it!
    Design studio Toronto

    ReplyDelete
  4. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Great work luxury oakville listings

    ReplyDelete
  5. Swiss replica uk watches, combining elegant style and cutting-edge technology, a variety of styles of Swiss replica uk breitling novelties watches, the pointer walks between your exclusive taste style.

    ReplyDelete
  6. When your website or blog goes live for the first time, it is exciting. That is until you realize no one but you and your. Austin drone photography

    ReplyDelete
  7. It should be noted that whilst ordering papers for sale at paper writing service, you can get unkind attitude. In case you feel that the bureau is trying to cheat you, don't buy term paper from it. Real estate agency claremont

    ReplyDelete
  8. Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! Lake LBJ Realty

    ReplyDelete
  9. Interesting topic for a blog. I have been searching the Internet for fun and came upon your website. Fabulous post. Thanks a ton for sharing your knowledge! It is great to see that some people still put in an effort into managing their websites. I'll be sure to check back again real soon. Chris Scott Brand

    ReplyDelete
  10. I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information. Christopher S Brand

    ReplyDelete
  11. Thank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. Immobilienmakler Hannover

    ReplyDelete
  12. This comment has been removed by the author.

    ReplyDelete
  13. This comment has been removed by the author.

    ReplyDelete
  14. Needed to compose you a tiny note to finally thank you very much yet again for your personal splendid methods you have discussed above. It is strangely open-handed with people like you to provide publicly all that a number of people would have marketed as an electronic book to generate some bucks for their own end, primarily now that you could possibly have tried it if you ever wanted. These inspiring ideas likewise acted like a fantastic way to know that the rest have the same dreams really like my personal own to see a whole lot more concerning this problem. I’m sure there are thousands of more enjoyable times in the future for many who check out your blog. https://cashnowformyhome.com/

    ReplyDelete
  15. I have recently started a blog, the info you provide on this site has helped me greatly. Thanks for all of your time & work. đất bình dương giá rẻ

    ReplyDelete
  16. I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much. Follando

    ReplyDelete
  17. Very useful post. This is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. Really its great article. Keep it up. immobilienmakler mülheim an der ruhr

    ReplyDelete
  18. With insurance, they will be liable to make payments in case anything breaks during the move. By hiring registered companies, if any disputes or damages arise during the move, you will be able to easily contact and deal with them. Movers Near Me

    ReplyDelete