DLF shares sink as Supreme Court upholds CCI penalty

Reuters Market Eye - Shares in DLF Ltd fell 4.6 percent on Wednesday.

The Supreme Court has directed DLF to pay 6.3 billion rupees ($104.2 million) in penalty, imposed by the Competition Commission of India (CCI) in 2011, TV channels report.

CCI imposed the fine after saying DLF violated fair trade norms and abused its dominant market position, as per the TV reports.

The builder had appealed the CCI order.

DLF could not be immediately reached for comment.

(Reporting by Indulal PM)