CCI dismisses anti-competitive case against Vatika Group

NEW DELHI: Fair trade regulator CCI has rejected allegations that real estate developer Vatika Group abused its dominant position in the market for development and sale of its commercial units in Gurgaon.

The matter relates to the purchase of a commercial unit in Vatika Professional Point Sector in Sector 66 of Gurgaon, Haryana.

A complaint filed by an individual had alleged Vatika of unfair and discriminatory conduct on buyers of the commercial units.

In a order released recently, the Competition Commission of India (CCI) said that "no prima facie case of contravention of the provisions of...the (Competition) Act is made out against the opposite party in the instant matter".

"Accordingly, the matter is closed under the provisions of...the Act," it added.

CCI noted that there is no information available on record and in the public domain "to show the position of strength of Vatika which enables it to operate independently of competitive forces prevailing in the relevant market".

"Prima facie, the opposite party does not appear to be in a dominant position in the relevant market," CCI said.

The complainant had alleged that Vatika had delayed construction of the project for more than a year from date of booking and even before starting of construction took payment of Rs 35.25 lakh (more than 33 per cent of the total consideration) under the threat of forfeiture of amount already paid.

Vatika had allegedly further demanded payment of Rs 8.43 lakh of the total consideration amount.