Compat Upholds 630-cr Penalty on DLF
In a setback to DLF, the Competition Appellate Tribunal (Compat) on Monday upheld an order by the Competition Commission of India, imposing a 630-crore penalty on the realty major for unfair business practices, following a complaint by Belaire Owners’ Association in Gurgaon. DLF later said it will move the Supreme Court against the Compat ruling. “The company shall be challenging the said order passed by the Compat in the Supreme Court for which Compat has given us 60 days time,” DLF added. In August 2011, the Competition Commission had found DLF violating fair trade norms and imposed a fine of 630 crore on it.