Zee Media Bureau
New Delhi: Fair trade regulator Competition Commission of India (CCI) on Thursday found realty major DLF guilty of unfair and abusive business practices in a fresh case relating to housing project.
While asking the realty giant to cease and desist from indulging in unfair trade practices, the commission stopped short of imposing monetary fine on the company.
In recent past, the DLF has been in trouble with major market regulators and the like.
Last year in October, in a major blow to DLF, market regulator SEBI barred the realty major as well as its six top executives, including chairman and main promoter K P Singh, from the securities market for 3 years for "active and deliberate suppression" of material information at the time of its IPO.
Those barred from the markets included K P Singh, his son Rajiv Singh (Vice Chairman), daughter Pia Singh (Whole Time Director), Managing Director T C Goyal, former CFO Ramesh Sanka and Kameshwar Swarup, who was ED-Legal at the time of the company's public offer in 2007.
Earlier this year too in February, in the biggest-ever penalty in a single case, SEBI slapped fines totalling Rs 86 crore on the company, its top executives, their family members and various other related entities for entering into "sham transactions" to mislead IPO investors about eight years ago.
With PTI Inputs
