Competition Commission investigating 11 realty firms
29 Nov 2010
The Competition Commission of India (CCI) is looking into violation of anti-competitive practices and abuse of dominance by 11 real estate companies even as the Central Bureau of Investigation (CBI) has arrested senior bankers in a housing finance racket.
CCI is currently investigating allegations of anti-competitive practices by 137 companies and 11 of these are in the real estate sector, CCI chairman Dhanendra Kumar said.
"I can only say that of the 137 cases that we are handling, 11 pertain to the real estate sector," he told reporters on the sidelines of an Assocham event.
Kumar, however, did not disclose the names of the companies involved.
The investigations by CCI, although, may look unrelated to the loan scam, the CCI may also be looking into the possible misuse of their market dominance for accessing bank finance.
The CBI had, last week, booked senior officials of some major banks and financial intermediary Money Matters for alleged collusion in arranging housing loans (See: CBI arrests senior bankers in Rs1,000-crore loan scam)