Com­pat Up­holds 630-cr Penalty on DLF

The Economic Times - - Front Page -

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.

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