New Delhi: The Competition Commission of India (CCI) has rejected allegations of anti-competitive business practices made against real estate developer Imperial Housing Ventures.
It was alleged that the realty player abused its dominant position by delaying delivery of an apartment at a project in Noida, Uttar Pradesh.
To ascertain whether the developer has abused its dominant position, the fair trade regulator considered the “provision of services relating to the development and sale of residential apartment in Noida and Greater Noida” as the relevant market.
Rejecting the allegations, CCI said Imperial Housing Ventures was not in a dominant position and there are many big and established players in the relevant market.
“…the Commission is of the opinion that no case has been made out against the opposite party (Imperial Housing Ventures) in violation of either section 3 or 4 of the (Competition) Act,” said the order dated December 17.
Section 4 relates to abuse of dominant position, while Sections 3 pertains to anti-competition agreements.
The complaint was filed by Kolkata-based Nutan Barter Pvt Ltd.
PTI