CCI rejects complaint against Ansal Properties

New Delhi: The Competition Commission has rejected allegations of unfair business practices against an Ansal group firm with regard to sale of commercial space in Uttar Pradesh.

The complaint pertained to shop/commercial space at the company's mall in Greater Noida.

Rejecting the allegations, CCI said there is no case of violation of competition norms.

"As the opposite party (Ansal Properties) does not appear to be in a dominant position in the relevant market, the question of abuse of dominant position by it does not arise," Competition Commission of India (CCI) said in its order dated December 23.

Citing information available on public domain, the fair trade regulator said Ansal Properties has only one commercial/ retail project in the Greater Noida region and there are several other real estate companies operating in the same geographic region.

"The presence of large number of players in the relevant market itself indicates that the commercial shop buyers have choice and are not solely dependent on the opposite party... prima facie, the opposite party does not appear to be dominant in the relevant market," the order said.

It was alleged that Ansal Properties committed a serious fraud and breach of trust by selling shops in the name of ground floor and giving possession of the same to the buyers on the first floor, after naming the first floor as ground floor".

Source: http://zeenews.india.com/business/realestate/latest-news/cci-rejects-complaint-against-ansal-properties_115013.html