The Competition Commission of India (CCI) has rejected allegations of anti-competitive methods against diversified group Larsen & Toubro with regard to a housing project in Bangalore as it found no evidence of unfair practices in the case. The complaint was filed by South City Group Housing Apartment Owners Association,representing members of the housing complex located in Bangalore. The Opposite Parties in the case are Larsen & Toubro and Dinesh P Ranka,the erstwhile owner of the land on which the South City Complex has been developed. Disposing of the case,the commission in its order said there exists no anti-competitive agreement between the parties in the present case.The Commission is also of the opinion that the Opposite Parties are not in a dominant position in either of the relevant markets… Since the Opposite Parties are not in a dominant position in any of the relevant markets,the question of abuse of dominant position does not arise, the order said.
Govt finalising draft policy on incentive for green buildings
The Centre is finalising a draft policy on non-financial incentives to promote green buildings,a top official of the ministry of housing and urban poverty alleviation said here. Referring to the additional Floor Space Index,for green buildings in Noida,housing secretary Arun Kumar Mishra said such measures would be actively promoted by the Centre and made part of the national policy. Addressing the Green Building Congress-2013 orgainsed by CII and the Indian Green Building Council,he said the Centre would hold dialogue with state governments on such incentives for green buildings. On any financial support like capital subsidy,he indicated that it could take time as it involved deliberations with several ministries.
Landmark exits Waves Ghaziabad township project for Rs350 crore
Dalmia groups private equity firm Landmark has exited the Ghaziabad township project of Wave group for Rs 350 crore,which is more than three times its initial investment. Gaurav Dalmia-led Landmark Group,which invests in real estate projects,had put in Rs 111.26 crore in Wave Groups township project spread over 4,500 acre. Landmark has exited two more investments this year. Its also recently exited the ATS Group with an earning of 2.3 times on its investment.