A question of answers

During the Q&A session after the Assocham Foundation Day Lecture, DLF Chairman K P Singh directed a volley of questions at Competition Commission of India Chairman Ashok Chawla. When Singh wanted to know why regulators, while taking decisions, didn't think of the repercussions on business, Chawla said that was how the system worked and that the judiciary in India had the power to reverse such decisions. Singh continued that businesses suffered when money got caught up in long-drawn-out cases. The to and fro continued for some time before it was cut short by the moderator. One would recall that last year, the Supreme Court had ordered DLF to pay a Rs 630-crore fine imposed on it by the antitrust regulator for alleged unfair business practices. The country's largest real estate developer had also found itself in regulatory cross hairs when the Securities and Exchange Board of India denied the company permission to access the capital market for three years.