The Competition Commission of India (CCI) on Monday disclosed that it was examining 11 complaints of anti-competitive practices received against real estate companies, some of which were being probed by the CBI in connection with the housing finance scam. CCI Chairman Dhanendra Kumar said that out of the 137 cases that had been filed with it, 11 pertained to the real estate sector, but declined to disclose the names of the companies against which complaints had been lodged. He was talking to reporters on the sidelines of an event here.
He said that the CCI intended to investigate the companies involved in the housing finance scam that led to the arrest of several bank officials and LIC Housing Finance CEO Ramachandran Nair.
According to Mr. Kumar the charges pertained to Sec. 3 and 4 of the Competition Act, 2002, dealing with anti-competitive agreement and abuse of dominant position, respectively.
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According to sources about half a dozen complaints were against one real estate company regarding its various housing projects.
The CCI, which examines violation of anti-competitive practices and abuse of dominance by companies including cases from MRTP (Monopoly and Restrictive Trade Practices), is looking into complaints pertaining to sectors such as real estate, the financial sector, stock exchanges, pharmacy, airlines, electricity and the entertainment industry.