Himalaya Realestate did not abuse dominant position: CCI

AppId is over the quota
AppId is over the quota
Himalaya Realestate did not abuse dominant position: CCI - Economic Times You are here: Home>CollectionsHimalaya Realestate did not abuse dominant position: CCIPTI Jul 4, 2014, 04.57PM ISTTags:Supertech|real estate|net worth|interest rates|Insurability|Competition Commission of India|Commission|Amrapali Group(There are many other real…)

NEW DELHI: Fair trade regulator CCI has dismissed complaints against Himalaya Realestate that it abused its dominant market position in residential apartments in Noida and Greater Noida.

Certain individuals who had booked their flats in the residential project 'Himalaya Pride in Greater Noida West' had alleged that the company abused its dominant position by imposing unfair and arbitrary clauses in the 'application-cum- registration form'.

body{margin:0px;}google_ad_client=\"ca-pub-8415620659137418\";google_ad_slot=\"3278470286\";google_ad_width=\"640\";google_ad_height=\"160\";google_ad_channel=\"9126527482,1000001865,1000000195\";google_adtest=\"off\";google_safe=\"high\";google_hints=\"market position residential project\";google_max_num_ads=\"4\";google_override_format=true;google_page_url=\"http://articles.economictimes.indiatimes.com/2014-07-04/news/51076465_1_relevant-market-dominant-position-fair-trade-regulator\";");document.close();})();' frameborder="0" scrolling="no" width="640" height="160">

"Since opposite party (Himalaya Realestate), prima facie, does not appear to be in a dominant position in the relevant market, there seems to be no question of abuse of its dominant position within the meaning of the provisions of the (Competition) Act," the Competition Commission of India (CCI) said in an order dated July 2.

According to the Commission, there are many other real estate developers like Supertech and Amrapali Group and operating in the relevant market.

"Further the size and resources of opposite party does not seem to be much in comparison to these other players in the relevant market.

"Also there seems to be no entry barriers or any dependence of buyers on opposite party for any reason whatsoever," it added.

As per the complainants the interest rates for delay in payments were hiked from 18 per cent to 24 per cent per annum, the floors originally allotted to them were changed, among others, under the agreement.

body{margin:0px;}google_ad_client=\"ca-pub-8415620659137418\";google_ad_slot=\"3278470286\";google_ad_width=\"640\";google_ad_height=\"110\";google_ad_channel=\"9126527482,1000001865,1000000195\";google_adtest=\"off\";google_safe=\"high\";google_hints=\"market position residential project\";google_max_num_ads=\"2\";google_override_format=true;google_page_url=\"http://articles.economictimes.indiatimes.com/2014-07-04/news/51076465_1_relevant-market-dominant-position-fair-trade-regulator\";");document.close();})();' frameborder="0" scrolling="no" width="640" height="110">FEATURED ARTICLESNarendra Modi's list of top 10 priorities for the economyStep-by-step guide to file your income tax return onlineIndian engineering graduates' degrees to be recognised across 17 countriesMore:Indian engineering graduates' degrees to be recognised across 17 countries10 best tax-saving investmentsIndia's first e-reader Wink unveiled, supporting 15 languagesBudget 2014: How PM Narendra Modi's first Budget may look likeFed warns of catastrophe if $14.3-trn debt limit not raised10 steps to file your income tax return online body{margin:0px;}google_ad_client=\"ca-pub-8415620659137418\";google_ad_slot=\"4755203488\";google_ad_width=\"300\";google_ad_height=\"250\";google_ad_channel=\"9126527482,1000001865,1000000195\";google_adtest=\"off\";google_safe=\"high\";google_hints=\"market position residential project\";google_max_num_ads=\"4\";google_override_format=true;google_page_url=\"http://articles.economictimes.indiatimes.com/2014-07-04/news/51076465_1_relevant-market-dominant-position-fair-trade-regulator\";");document.close();})();' frameborder="0" scrolling="no" width="300" height="250"> RELATED ARTICLESCCI orders fresh probe against DLF; fears abuse in office...
June 24, 2014CCI rules out abuse of dominant position by Omaxe
January 28, 2014Supertech not in dominant market position to abuse it: CCI
June 5, 2013© 2014 Bennett, Coleman & Co. Ltd. All rights reservedIndex by Keyword|Index by Datewww.economictimes.comFeedback|Privacy Policy|Terms of Use|Advertise with us document.write(unescape("%3Cscript src='" + (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js' %3E%3C/script%3E")); COMSCORE.beacon({ c1:2, c2:6036484, c3:"", c4:"", c5:"", c6:"", c15:"" });