SC Allows DLF To Pay Rs 100 cr Of Fine – Livemint – 28-Nov-2014

December 2, 2014 - Uncategorized

The Supreme Court on Thursday allowed real estate firm DLF Ltd to pay another Rs.100 crore towards a Rs.630 crore fine imposed upon it by the antitrust regulator. An application by DLF to waive off the remaining penalty of Rs.480 crore will be taken up on Friday. A three-judge bench of justices Anil R. Dave, N.V. Ramana and R. Banumathi allowed DLF to pay the amount of Rs.100 crore following an application by the company. Earlier, DLF had deposited a sum of Rs.50 crore with the court registry. DLF moved the apex court last week seeking a waiver of the remaining penalty, citing financial difficulty. The Competition Commission of India (CCI) had in 2011 imposed a Rs.630 crore penalty on DLF for abusing its dominant position with respect to three projects in Gurgaon.

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