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India: Realty firms mull legal action against CCI order

Posted on 24 August 2011

The real estate industry, already reeling under falling profit, high interest rates and steep input costs, seems to be sticking together, fearing further action from the Competition Commission of India (CCI).
The competition watchdog had recently imposed a penalty of Rs 630 crore on real estate major DLF over “abuse of dominant position” in relation to two high-end housing projects in Gurgaon. Delayed delivery of projects and changes in the building structure were among the charges levelled against the developer……………………………………….Full Article: Source


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