DLF, the Gurgaon-based real estate group, got a relief when fair trade regulator, the Competition Commission of India (CCI), dismissed allegations that two DLF Group entities indulged in anti-competitive business practices.
The complaints were made against DLF Qutab Enclave Complex Educational Charitable Trust and DLF for leasing plots earmarked for developing and running crÃ¨ches and play schools in residential areas.
"The potential developer of a crÃ¨che/play school does not necessarily require to develop/run the same with the residential colony/complex only. Therefore, considering that the relevant product market is not restricted to the plots earmarked for amenities in the residential colonies, the Commission does not find OP1/DLF Group to be dominant," the CCI said in its order.
The complaint was filed by Geeta Kapoor of Vasant Kunj, New Delhi, who had entered into a lease agreement with the Trust to set up and run a crÃ¨che in DLF Qutab Enclave Complex, in 1993 on a 95-year lease.
The CCI order said DLF was not in contravention of section 4 of the Competition Commission of Act, 2002 and order the case to be closed under section 26 (2) of the Act.
The DLF stock was trading at Rs 117.85 on Tuesday on the BSE, up 2.30%.