The Competition Commission of India has imposed a penalty at the rate of 7 percent of the average of the turnover for the last three years on real estate giant DLF Ltd. The penalty amounting to Rs. 63
my builder also make all the agreement one side pl inform me how can i fight against him v k rai9810167033/222and pl inform me that who was the advocate for this 600 cr penalty casethanks
We are dealing with one such abusive builder in Tamil Nadu who is demanding for late payment interest from customers using their one sided agreement and refusing to hand over the house if the customers refuse to pay the delay fee. Would like to know how to approach the authorities of CCI to complain against the builder. Any help or guidance will be much appreciated. This will save the hard earned money of poor customers.
It does not really make a difference because of, first: the penalty inflicted by the competition commission of India on the real estate giant, DLF, would definitely consume a few more years(because of the existing lega procedures), before it is realised from DLF INDIA.Secondly:It doesnot really make a difference to companies like DLF, owing to the fact that they are making billions out of high scale projects like this and even the " deterence" factor will not work here.This is because, it is not that, builders like DLF donot know the consequences of these kind of sactions, rather, before formulating projects like these, they keep a seperate fund altogether to combat "hinderances" like these, so it doesnot really make a difference.Moreover, instances like this doesnot really make a difference, as under present circumstances, compared to the demand for properties in India, the number of suppliers is much less.So even after the occurence of such instances, people are bound to go to builders like DLF and others.At present, it is not much possibe to combat the problems relating to "cheating by builders(like the above)".What can be done is: a more efficient system of checking should be constituted.In other words, regular checks should be made beyond the completion of such kind of projects.
This fine should automatically be slapped on all builders of India immediately regardless of their size and location!
I am surprised how ELP Partner Gandhi is quoted in the media without the disclaimer that he and his firm represent the CCI. It would also be interesting to see how they were selected? Was there a tender process? Was it fair? Has the CCI been anti-competitive?
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