1. CCI rejects complaint against realty firm Bestech

CCI rejects complaint against realty firm Bestech

The Competition Commission has dismissed charges against Gurgaon-based realty firm Bestech India with regard to unfair terms and conditions imposed in a flat buyer agreement.

By: | New Delhi | Published: September 8, 2016 5:18 PM
With regard to anti-competitive practices, CCI said "no cogent material evidences have been provided to substantiate the allegations". (PTI)

With regard to anti-competitive practices, CCI said “no cogent material evidences have been provided to substantiate the allegations”. (PTI)

The Competition Commission has dismissed charges against Gurgaon-based realty firm Bestech India with regard to unfair terms and conditions imposed in a flat buyer agreement.

The allegations were dismissed after CCI found that the company was not a dominant player in the relevant market and had not violated competition norms.

It was alleged that the company not only failed to deliver the possession of a flat booked by the complainant in due time but and also unilaterally cancelled the allotment and forfeited the amount paid.

The charges also stated that Bestech India and other realty developers were luring customers with false offers by similar terms and condition in the buyer’s agreements.

For this case, Competition Commission of India (CCI) considered “provision of services for development and sale of residential apartments/flats in Gurgaon”, as the relevant market.

Rejecting the complaint, the watchdog said there are other major real estate players in the relevant market and Bestech India does not possess market power to act independently of competitive forces and is therefore not dominant.

With regard to anti-competitive practices, CCI said “no cogent material evidences have been provided to substantiate the allegations”.

  1. No Comments.

Go to Top