CCI rejects charges against Yamuna Expressway authority,2othrs

Image
Press Trust of India New Delhi
Last Updated : Oct 08 2014 | 5:40 PM IST
The Competition Commission has rejected complaints of unfair business practices against -- Yamuna Expressway Industrial Development Authority, Haryana State Industrial & Infrastructure and Vardhman Properties.
The allegations of anti-competitive practices pertained to realty projects of these entities in the national capital region.
In three separate orders released recently, Competition Commission of India (CCI) said it found "prima facie, no case" of violation of the competition law against these entities.
The complaint against YEIDA pertained to abuse of dominant position in the market for development and sale of residential plots in Noida, Greater Noida and Yamuna Expressway falling within the district of Gautam Budh Nagar.
The complainants, allottees of residential plots developed by YEIDA, had alleged that it imposed unfair and one-sided terms and conditions in the 'letter of transfer of allotment rights'.
The complaint in this case were also filed against Department of Stamp & Registration and Sub-Registrar at Greater Noida in Uttar Pradesh.
CCI noted that YEIDA does not appear to be in a dominant position in the relevant market and hence there seems to be no question of abuse of dominance. It also rejected charges against the other two entities.
In the case of Haryana State Industrial & Infrastructure, the complaint was filed by two individuals who had brought plot of land in township project of the entity at Manesar, Gurgaon, Haryana.
The complaints had alleged that the entity had abused its dominant position by imposing arbitrary conditions, changing the nature of transaction from free hold to conditional transfer, holding title and control of the property in its hand, among others, which was in contradiction to the terms and conditions agreed upon.
Meanwhile, the matter against Vardhman Properties was related to abuse of dominant position in the market for commercial units in shopping malls in Delhi.
In a complaint, Vardhman Plus Citi Mall Traders Welfare Association had alleged that 'Builder Buyers Agreements' executed with the realty player in respect of 'Vardhman Plus City Mall' at Dwarka in Delhi were unilateral, one-sided and unfair.
Besides Vardhman, the complainants had also filed the case against DDA, MCD and the Delhi Police.
"Since there is no information available on record and on the public domain to show the position of strength of the opposite party 1 (Vardhman Properties) which enables it to operate independently of the competitive forces prevailing in the relevant market, prima facie, opposite party 1 does not appear to be in a dominant position in," CCI said.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 08 2014 | 5:40 PM IST

Next Story