January 19, 2015 8:05 PM

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SC asks its registry to keep fine paid by DLF in PSU bank

The Supreme Court today asked its registry to invest in a nationalized bank the money deposited with it by real estate major DLF as a fine which was imposed by the Competition Commission of India. DLF, which had earlier deposited 150 crore out of total fine of Rs 630 crore, today gave another Rs 75 crore to the apex court registry. The real estate firm now has to pay the remaining amount of Rs 405 crore. A bench of justices S J Mukhopadhaya and N V Ramana would now hear the final arguments in the case on February 11. The bench also directed DLF to amend the flat buyers' agreements. CCI had in 2011 found DLF violating fair trade norms and imposed a fine of Rs 630 crore on it following a complaint by Belaire Owners' Association in Gurgaon. It was in May 2010 that the buyer's association had complained against DLF.

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