Widening its probe into suspected anti-consumer practices in the real estate sector, fair trade watchdog CCI has issued notices to at least 20 developers and their industry body Credai for alleged cartelisation and unfair trade practices.
Among other charges, these developers are being probed for inserting one-sided clauses in favour of the companies and against the interest of consumers in the buyer agreements for sale of flats, apartments and other residential properties, along with other other anti-competitive practices.
A senior Competition Commission (CCI) official told PTI that certain details have also been sought from these real estate players, while they would also be given an opportunity to present their case before the regulator.However, it could not be ascertained whether any company has already been found prima facie guilty of violating any provisions of the Competition Act.The CCI has pulled up many realty players in the past for violating fair trade norms, while a huge penalty of Rs 630 crore was earlier imposed on DlF. The order was later upheld by the Competition Appellate Tribunal as well and DlF has now filed an appeal in the Supreme Court.