Competition commission of india

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Competition commission of india

  1. 1. Competition Commission of India  INTRODUCTION  Competition Act 2002  Preambles to The Competition Act  Fine On DLF Of 630 Crores And Reasons  Implications
  2. 2. INTRODUCTION • A body of the Government of India responsible for enforcing Competition Act 2002 • Prevent activities that have an adverse effect on competition in India. • Established on 14 October 2003. • Fully functional in May 2009. • Headed By Ashok Chawla
  3. 3. Competition Act 2002 It follows the philosophy of modern competition laws The Act prohibits anti-competitive agreements Does assure that there is no abuse of dominant position by enterprises and regulates combinations
  4. 4. Preambles to the Act • Make the markets work for the benefit and welfare of consumers. • Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth • Effectuate the most efficient utilization of economic resources. Ensure smooth alignment of Sectoral regulatory laws in tandem with the competition law.
  5. 5. Reasons For Fine On DLF by CCI • DLF, signed sale agreements that were hopelessly one-sided. • Beginning work on a residential project, The Belaire, in Gurgaon Phase V. • Moreover, they without approvals were increasing the number of floors mid-way through the project, delaying completion, and forfeiting the booking amount of some buyers.
  6. 6. • The case relates to a complaint filed by The Belaire Owners' Association in Gurgaon against DLF in May 2010. • DLF increased the number of floors to 29 from 19, increasing the number of apartments to 564 from 384. • DLF sold flats on 10 new floors of the expanded project at a lower price than what the earlier buyers had paid. • DLF promised to complete it in 2009, but more than two years later, buyers are yet to get possession.
  7. 7. What Has This Fine Done? • Open the door for other property owners to approach the CCI and complain about unfair or discriminatory practices adopted by real estate companies. • Firms Operating in the Real Estate Sector will be aware of the Consequences of Carrying Out Operations which are One-Sided.

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