DLF's plea seeking clarification posted for hearing on Jul 18

New Delhi: Real estate major DLF's plea in Competition Appellate Tribunal seeking a clarification on a stay order last year on CCI's Rs 630-crore penalty will come up for final hearing on July 18.

After a marathon hearing of three hours, the tribunal asked for listing of DLF's application on July 18 when the real estate major's main petition challenging CCI's penalty is scheduled for final hearing.

DLF has filed an application seeking a clarification on tribunal's order of November 9 last year staying CCI's Rs 630 crore penalty on DLF for abuse of dominant market position.

DLF has requested the tribunal to clarify the status of "cease and desist" order passed by CCI.

"List the matter on 18th July, 2012," said a three- member COMPAT bench headed by Chairman Justice V S Sirpurkar.

On August 12 last year, 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.

Source:zeenews.india.com