Latest News | CCI Rejects Complaints Against GNIDA, Noida Authority

New Delhi, May 5 (PTI) Fair trade watchdog CCI has rejected complaints of abuse of dominant positions made against Greater Noida Industrial Development Authority (GNIDA) and New Okhla Industrial Development Authority (NOIDA).

While passing the order in this regard, the Competition Commission of India (CCI) said it hopes that GNIDA and NOIDA authorities would consider the issues raised in the complaints in a "non-adversarial manner".

The Commission has passed the order on three complaints -- two filed by CREDAI and one by real estate firm Supertech.

The Western Uttar Pradesh Chapter of CREDAI (Confederation of Real Estate Developers Association of India) filed complaints against GNIDA and NOIDA, while Supertech had filed the complaint against GNIDA.

In the order, dated May 4, the watchdog said there exists no prima facie case.

"Before parting with this order, the Commission is not oblivious of the scenario obtaining in the real estate sector and the difficulties faced by developers in completing the projects, some of which are entirely beyond their control.

"The Commission hopes and trust that NOIDA and GNIDA Authorities would consider the issues raised in these informations in a non-adversarial manner by calling a meeting with the developers and its representative body CREDAI to address the genuine difficulties faced by the developers as projected in these informations at the earliest," the order said.

CCI noted that it was not inclined to interfere in the case keeping also in mind that the lease deeds enclosed with the information date back to May 2007, March 2010, June 2010, October 2010, January 2012 etc.

"... no reasons have been detailed for approaching the Commission at this belated stage for impugning the terms of the lease deeds," it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)