NEW DELHI (INDIA): The Competition Commission of India (CCI) has dismissed allegations of abuse of dominance made against realty firm Concept Horizon Infra with regard to sale of a flat.
The complaint — filed against the company and one of its employees — pertained to purchase of a flat at a project in Greater Noida, Uttar Pradesh.
It was alleged that the company abused its dominant position by not paying the assured monthly return with respect to a residential unit at the project.
To assess whether there have been any violation of competition norms, the CCI considered the market for ‘provision of services for development and sale of residential apartments/ flats in Noida and Greater Noida’ as the relevant one.
In an order dated September 6, CCI said there are several established large real estate developers having residential housing projects of varying magnitudes than Concept Horizon Infra operating in the relevant market.
The company does not possess market power to act independently of the competitive forces in the relevant market, the regulator said, adding that in the absence of dominance, assessment of its alleged abusive conduct does not arise.
Source: Press Trust of India