DLF Ltd - CCI Case: Flat Allotments Not be Cancelled Till Disposal..!

Further hearing to April 22, 2013 onwards.

Flat buyers in a housing project of DLF LTD, which is engaged in a long-running case against fair trade regulator CCI (Competition Commission of India), have got interim relief as the firm has agreed before a tribunal on not cancelling allotments due to non-payment of charges during pendency of the case.

Magnolia, Park Place and Belaire Projects...!

The Competition Appellate Tribunal (COMPAT) has provided for this relief in an interim order passed by it with regard to DLF Ltd's Magnolia project in Gurgaon near the national capital. Similar directions have been earlier passed by the tribunal for DLF Ltd's  2 other projects, Park Place and Belaire.

The tribunal has also said that any rights of the flat buyers, which might arise after disposal of the case, would not be affected if they want to take possession of the houses after making the outstanding payments demanded by DLF Ltd.

The firm has been charged by the CCI of having indulged in anti-competitive practices and of abuse of its dominant position.

Rs. 630 Crore Fine...!

CCI had imposed a fine of Rs. 630 crore on DLF Ltd in a case involving Park Place and Beliare projects, while non-monetary sanctions were imposed in the Magnolia matter also.

DLF Ltd has challenged the CCI orders before the COMPAT..

While hearing DLF Ltd's appeal, a  3 member COMPAT bench also heard the submissions made by the Magnolia Flat Owners' Associations about their concerns and passed interim directions on April 2, 2013.

COMPAT Bench Headed by Justice Mr. V. S. Sirpurkar said,  "By way of interim relief, we observe that those persons who want to make payment of the rest of the charges demanded by the appellant, DLF Ltd may do so without prejudice to their rights which are to be crystallized only after the appeal is finally disposed of" .

DLF Ltd also gave an undertaking that it would not cancel the allotment of the flat purchasers, who wished not to pay the amount demanded by it, during the pendency of the case.

The COMPAT order said, "DLF Ltd undertakes not to take any action such as cancellation of agreement(s) in case the persons, who are not interested in making payments at present, do not make any such payments during the pendency of the appeal"
The tribunal said that its interim order should "allay the woes of the proposed flat owners to some extent" and posted the matter for further hearing to April 22, 2013 onwards.


No comments:

Post a Comment

Popular Posts

Blog Archive

Recent Posts

Featured Post

Election results The most obvious is not obvious

"The most obvious is not obvious" I frequently receive calls from clients asking if they should invest a sum of money before the e...