CCI extends DLF changes to 2 more schemes

The Competition Commission of India (CCI) on Monday said modifications suggested by it to the agreement between DLF and apartment buyers of the realtor’s Belaire project would be applicable to two more projects of the company, namely Park Place and Magnolia.

The Competition Commission of India (CCI) on Monday said modifications suggested by it to the agreement between DLF and apartment buyers of the realtor’s Belaire project would be applicable to two more projects of the company, namely Park Place and Magnolia.

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The modifications follow a direction from Competition Appellate Tribunal (COMPAT), which is hearing DLF’s appeal against the fair trade regulator’s Rs. 630 crore penalty and other sanctions against it.

After finding DLF abusing its dominant position, CCI had in August 2011 imposed the penalty on DLF and had asked the company to suitably modify its apartment buyer agreement to remove the unfair conditions.

After hearing DLF’s appeal, COMPAT, however, asked CCI in March 2012 to pass another order specifying the extent and manner in which terms and conditions of the Apartment Buyer’s Agreement needed to be modified.

Consequently, CCI passed a supplementary order on January 3 to modify the buyer agreement DLF’s Belaire project at Gurgaon.