CCI order related to realty sector likely in 2 3 weeks: Chawla
About 20 entities came under the regulator's scanner
Jan 19, 2015
Source : Business Standard

 

New Delhi: The Competition Commission is likely to pass its ruling in next two to three weeks on the alleged unfair business ways in the realty space, a case where about 20 entities came under the regulator's scanner. 

"We will come out with our order. It will be a speaking order and I can't say at this stage what our thinking (on the matter is)," Competition Commission of India (CCI) Chairman Ashok Chawla said today. 

Responding to a query on when the ruling related to realty sector is expected, he said, "I cannot give you a specific date but may be in the next two or three weeks". 

He was speaking on the sidelines of an event organised by industry body Assocham. 

The fair trade watchdog has completed hearings of entities who were issued notices with regard to the issue of alleged cartelisation and anti-competitive trade practices. 

CCI had issued notices to about 20 entities, including realty companies, following a detailed probe by its Director General (DG). 

DG, which is the investigation arm of the Commission, had flagged off various issues in the real estate space. 

Among others, the developers are being probed for inserting one-sided clauses in favour of the companies and against the interest of consumers in the buyer agreements for sale of flats, apartments and other residential properties. 

On the proposed Holcim-Lafarge merger deal, which was put under public scrutiny by the regulator, Chawla said the decision on the matter is likely in the "next one month". 

The deal between Holcim and Lafarge, both of which have good presence in India, would create one of the world's largest cement makers. It was announced in April 2014. 

After prima facie finding that the transaction could violate fair trade norms, CCI put the same under public scrutiny in November last year. 

Swiss major Holcim has controlling stakes in India's two leading cement makers - ACC Ltd and Ambuja Cements. 

On the status of complaint filed against e-retailers, including Flipkart, Chawla said the Commission is looking at the matter. 

CCI has been looking into alleged anti-competitive conduct by online retail firms like Flipkart India, Amazon, Jasper Infotech and Xerion Retail. 

E-commerce firms like Flipkart have come under the scanner of the Competition Commission following massive discount sales by them.

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