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CCI dismisses complaint against Panchsheel Buildtech, Tata Capital Housing

Press Trust of India  |  New Delhi 

Fair trade regulator has dismissed a complaint alleging against Buildtech and Housing Finance with regard to sale of a flat in

Noting that "no case of contravention of either Section 3 or Section 4 of the (Competition) Act" is made out against the two entities, the CCI, through an order dated June 11, closed the matter.

Section 3 and Section 4 pertain to anti-competitive agreements and abuse of dominant market position, respectively.

The order has come following a complaint filed by an individual, who had booked a flat in one of the residential projects of Panchsheel, in Greater Noida,

The complainant had allegedly paid a part of the basic cost of the flat to and for another part he had got two loans sanctioned from Housing Finance.

As per the complainant, an agreement entered into between the parties, stated that till the offer of possession is given by Panchsheel, the loan instalments of the flat had to be paid to Housing Finance by

It was alleged that Panchsheel and had entered into an anti-competitive agreement whereby no instalment was paid by the former to the latter.

Dismissing the allegation of anti-competitive agreement between, the fair trade regulator said the complainant has placed no evidence on record which can even remotely suggest the existence of any agreement between Panchsheel and

Considering the "provision of services relating to development and sale of residential apartments/ flats in and Greater Noida" as the relevant market for the case, noted that Panchsheel is not a in it.

In the absence of dominant position of Panchsheel in the relevant market, any question of abuse of dominance by it would not arise, the (CCI) said.

"Thus, in view of the Commission, no contravention by OP-1 (Panchsheel) of the provisions of Section 4 of the Act is also made out," it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 18:20 IST