May 20, 2014 2:11 PM

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Competition Appellate Tribunal upholds Rs. 630 cr penalty on DLF

The Competition Appellate Tribunal, Compat has upheld a Competition Commission of India, CCI order holding the real estate company DLF guilty of abusing its dominant market position with regard to a residential society in Gurgaon. DLF will now have to pay the penalty of 630 crore rupees levied by the CCI along with 9 per cent interest. In a statement, the company said it will challenge the Compat order in the Supreme Court. In its 139-page order, the Compat said as a dominant player, DLF has a special duty to be within the four corners of the law. This is the first major CCI ruling to have been upheld by the appellate tribunal. The CCI had levied a penalty of 630 crore rupees on DLF on August 12, 2011 for abuse of its dominant position, which involved selling of flats.

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