CCI orders fresh probe in DLF group company; stock falls over 1%

NEW DELHI: DLF plunged as much as 1.4 per cent in trade on Wednesday after the fair trade regulator CCI ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon.

At 09:30 a.m.; the stock recouped some of the losses but was still trading 0.9 per cent lower at Rs 217.15. It hit a low of Rs 216.20 and a high of Rs 219 in trade today.

Some other group entities of the real estate major have already faced probe by the Competition Commission of India (CCI) with regard to various other cases of anti-competitive practices, said a PTI report.

CCI had also imposed a fine of Rs 630 crore against DLF for abuse of its dominant market position a residential real estate case, but the company had challenged the same.

As per the report, the latest probe would be carried out against DLF Universal, upon a complaint that alleged the realty company of imposing certain anti-competitive clauses in the 'Commercial Office Space Buyers Agreements'.