NEW DELHI: The Competition Commission has dismissed allegations of abuse of dominant market position against real estate developer Akshaya Private Ltd with respect to residential markets in Tamil Nadu.
Noting that Akshaya had competitive constraints owing to presence of other developers in the market, the Commission said that the realty firm prima facie was not a dominant player in the determined relevant market.
“Since the opposite party (Akshaya) does not appear to be in a dominant position in the relevant market, there seems to be no question of abuse of its dominant position within the meaning of the provisions…of the (Competition) Act arises,” Competition Commission of India (CCI) said in an order dated January 2.
It was stated by the complainant NK Natural Foods that in response to various attractive advertisements released by Akshaya, it evinced interest in purchasing twelve residential apartments promoted by the real estate firm in its project at Kancheepuram District in Tamil Nadu.
According to the complainant, Akshaya had abused its dominant position in the market by imposing agreements which were one sided, arbitrary and unreasonable.
NK Natural said that the contracts were only used against securing payments of money and exonerated Akshaya from any liability for delayed possession.
In its order, the Commission held, among others, that “the presence of other well known builders in the relevant market negates the contention that informant (NK Natural) or any other consumer was dependent only on the opposite party to purchase an apartment”.
“Presence of other builders of repute also shows prevalence of competition,” it added. -PTI
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