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Crisis-hit Jaiprakash Associates to appeal against CCI penalty order

The company is in the process of filing an appeal against the order

Press Trust of India  |  New Delhi 

Jaiprakash Associates
Representative image

Crisis-hit Ltd (JAL) will challenge Competition Commission's order that imposed nearly Rs 14 crore fine on the company for abusing dominant market position.

The penalty was slapped by the (CCI) for imposing "unfair" and "discriminatory" conditions on home buyers.

"The company is in the process of filing an appeal against the order," JAL said in a regulatory filing on Tuesday.

According to the filing, the has held that the company enjoys dominant position in the relevant market of provision of services for development and sale of independent residential/ dwelling units in integrated townships in Noida and Greater Noida, Uttar Pradesh.

In an order dated August 9, the watchdog has imposed a penalty of Rs 13.82 crore, which amounts to five per cent of the relevant turnover earned by the company from the relevant market during the financial years from 2009-10 to 2011-12.

First Published: Tue, August 20 2019. 21:46 IST