DLF Ltd : Move Supreme Court over Belaire Issue..


Realty firm DLF Ltd has said that it will move Supreme Court against Competition Appellate Tribunal (COMPAT) ruling that upheld the CCI order imposing Rs. 630 crore penalty on the company.

The Competition Commission of India (CCI) had found DLF Ltd violating fair trade norms in their Belaire project.

The decision came after the Belaire Owners' Association had approached the CCI for constructing additional floors without their permission. Ruling in favour of the residents, the CCI imposed a penalty of Rs. 630 crore on DLF Ltd, in August 2011.
 
Src: ET
On Monday, the DLF Ltd released a statement to this effect stating, “The Hon'ble COMPAT has pronounced the Order today upholding certain findings of the earlier Orders of CCI. The Company is yet to examine the detailed Order, therefore, the Company at this stage will not be in a position to make any further comments.”

“The firm shall be challenging the said Order passed by the Hon'ble COMPAT in the Hon'ble Supreme Court for which COMPAT has given us 60 days time,” said Mr.Sanjey Roy, Senior Vice President, Corporate Communications, DLF Ltd in the statement.


“The firm wishes to point out that it has successfully delivered Park Place, Belaire & Magnolia projects which were the subject matter of the above appeals. The Company has respected in true letter and spirit the customer commitments made by it. In testament thereof, out of over 2600 total number of flats, over 2200 have been handed over, and over 1800 number of families are already residing therein,” added the statement
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