CCI investigating five realty companies1 min read . Updated: 10 Dec 2012, 09:12 PM IST
DLF, L&T, Tulip Infratech, JP Associates, Omaxe under competition watchdog radar
New Delhi: The Competition Commission of India (CCI) has initiated a probe against five real estate players, including DLF and JP Associates, for alleged anti-competitive practices, Parliament was informed on Monday.
“The CCI has initiated a probe against DLF, Larsen & Toubro (L&T), Tulip Infrtaech, JP Associates and Omaxe based on 23 cases filed against the companies," corporate affairs minister Sachin Pilot said in a written reply to the Rajya Sabha.
The minister was stating the names of real estate companies against whom CCI has initiated probe.
Pilot further said 15 cases against DLF have been decided.
He further said that the competition watchdog has imposed a penalty of ₹ 630 crore on DLF for abusing its dominant position and has also passed a “cease and desist" order regarding anti-competitive practices adopted by real estate giant.