The Competition Commission of India (CCI) has imposed a penalty of Rs 2.4 crore on DLF as company remained incapable to comply with the regulators’ directions to cease and desist from unfair trade practices. Moreover, the continued non-compliance would extract a penalty of Rs 1 lakh every day.
The complaint was filed against DLF Universal, Haryana Urban Development Authority and the Director Town and Country Planning, Haryana. After looking into the matter, CCI found that DLF had contravened its order, dated January 31, 2012 by issuing the impugned demand letters dated November 28, 2012.
DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 314 msf of planned projects with 52 msf of projects under construction.
