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21/05/2015 17:01

CCI penalty: DLF pays Rs 525 cr to SC

In a bid to comply with court's direction to deposit Rs 630 crore fine slapped by fair trade regulator CCI, realty major, DLF has deposited Rs 525 crore with the Supreme Court and will pay the balance by early July.

"The company has deposited Rs 525 crore with Hon'ble Supreme Court against a total penalty of Rs 630 crore. Balance amount shall be deposited by early July," DLF said in an analyst presentation.

In August 2011, the Competition Commission of India (CCI) had found DLF violating fair trade norms and imposed a fine of Rs 630 crore on it following a complaint by a Belaire Owners' Association in Gurgaon.

The Supreme Court had said in August last year that the total amount should be deposited within 3 months with its Registry, pending the outcome of the appeal filed by DLF against the May 19 order of the Competition Appellate Tribunal's (COMPAT) upholding the penalty imposed by CCI.

But later in November 2014, the apex court allowed DLF to deposit the remaining Rs 480 crore, out of the Rs 630 crore penalty, in monthly installments.

Meanwhile, shares of the company closed trading at 124.25 a piece, up 0.73 per cent from the previous close on BSE.