COMPAT gives CCI time to modify sale agreement in DLF case
New Delhi: Fair trade regulator CCI Thursday sought more time from the Competition Appellate Tribunal (COMPAT) to complete draft modifications in the sale agreement between realty major DLF and flat owners of two of its housing projects at Gurgaon -- DLF Park Palace and The Belaire.
Accepting the request, a COMPAT bench -- headed by Chairman Justice V S Sirpurkar -- adjourned the matter to November 21.
On July 18, COMPAT had directed the CCI to complete the process of modifying draft sale agreement by the end of September by giving "top priority to this matter". The tribunal had also asked DLF to file one draft agreement before the commission, while fixing the hearing for Thursday.
The buyers' association had filed their draft before the CCI as per tribunal's order.
The COMPAT was hearing a petition filed by DLF against the CCI order imposing Rs 630 crore penalty on the company.
On August 12 last year, the Competition Commission of India (CCI) had imposed a penalty of Rs 630 crore on DLF after finding the realty major guilty of abuse of the dominant market position.
The orders were passed following inquiries into complaints filed by the flat buyer associations' of two separate DLF projects in Gurgaon, DLF Park Palace and The Belaire, alleging delays in the project and increase in the number of floors than planned earlier, among other things.