SC to hear DLF's plea against CCI order today

The Supreme Court today will hear DLF plea on the issue of jurisdiction of competition commission of India (CCI).The realty bellwether DLF which is under the scanner of a number of regulators and will face the scrutiny at the hands of the Apex Court today. The court will hear a petition filed by DLF to challenge the CCI order. The CCI has slapped a penalty of Rs 630 crore on DLF and had argued that there is a case of abuse of dominant position with respect to one of its project referred to as ‘The Belaire’ situated in Gurgaon. The CCI had argued that the buyers agreements that DLF had entered into with the purchasers of these flats was skewed. The terms and agreement were in favour of the realty major, which was a concern echoed by the flat buyers too. The matter will be heard by Apex Court today. However, DLF on its part has been making payment of this Rs 630 crore penalty in installments before the before the Apex court. Moreover, this comes in the backdrop of the Securities Appellate Tribunal (SAT) giving relief to the realty.

On March 13, Securities Appellate Tribunal (SAT) had quashed Securities and Exchange Board of India's (SEBI) order against DLF 's three-year ban from capital markets, stating that the market regulator is not justified in condemning the real estate developer in conducting its business.