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SC asks DLF to deposit Rs.480 crore penalty

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SC asks DLF to deposit Rs.480 crore penalty
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New Delhi: The Supreme Court Friday asked DLF to deposit the balance Rs.480 crore of a total Rs.630 crore penalty imposed on the realty major by the fair trade regulator CCI for allegedly exploiting its dominant position.

An apex court bench, headed by Chief Justice H.L. Dattu, said DLF could pay the amount in instalments of Rs.75 crore each from Jan 15 till the penalty is cleared.

DLF was imposed the penalty of Rs.630 crore by the Competition Commission of India (CCI) for allegedly exploiting its dominant position to the disadvantage of its customers in three projects in Gurgaon.

The apex court was hearing a petition by the real estate major which has challenged the imposition of Rs.630 crore penalty by the CCI Aug 12, 2011.

The CCI decision to impose the penalty was upheld by the Competition Appellate Tribunal in 2013.

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