SC Upholds Rs 630 Crore Fine on DLF

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SC Upholds Rs 630 Crore Fine on DLF
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The Supreme Court has maintained the penalty of Rs 630 crore imposed on real estate major DLF by the Competition Commission of India (CCI) for “forcing flat buyers to accept changes in the building plans.”

The money is to be deposited in a nationalised bank till the disposal of DLF’s appeal against the CCI order, which was upheld by Competition Appellate Tribunal (Compat).

The flat buyers, through their associations, had complained to CCI that DLF had allegedly delayed handing over possession of their flats and had built some additional floors that were not mentioned in the original plan.

CCI had upheld the argument and ordered DLF to pay a fine of Rs 630 crore in 2011.

“DLF will take all steps to comply with the directions of the Hon’ble Supreme Court and remains confident of the merits of its case,” the company said in a statement.
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“This (the SC order) will cement the competition/anti-trust eco system and greatly restore the confidence of millions of homebuyers,” said Pankaj Mohindroo, secretary, Belaire Owners Association and president, Federation of Apartment Owners Association.