DLF companies under govt scanner

New Delhi, Aug 5 (IANS) The Competition Commission of India has received complaints against four subsidiaries of realty major DLF for alleged misuse of their position to block competition in the market, Corporate Affairs Minister Salman Khurshid said Thursday.

The competition watchdog has received complaints against four subsidiaries of DLF – DLF New Gurgaon Homes Developers, DLF Home Developers Ltd and Others, DLF Limited and Others, and DLF New Gurgaon, Khurshid said

In a written reply to a question in the Lok Sabha, he said the ministry was concerned about the malpractices in the real estate sector and would take appropriate action against the companies that indulge in fraud or malpractices.

‘The ministry is taking action against the developers in the realty sector which are registered under Companies Act 1956,’ Khurshid added.

He said in case the practices followed by the real estate developers were anti-competitive or in the nature of abuse of dominance, the commission initiates action under the provisions of the Competition Act, 2002.

— Indo-Asian News Service


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