Saturday, November 26, 2022

CCI dismisses complaints against GNIDA, Noida Authority

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Fair Trade Watchdog CCI has dismissed complaints of misuse of key positions against Greater Noida Industrial Development Authority (GNIDA) and New Okhla Industrial Development Authority (NOIDA). Passing the order in this regard, the Competition Commission (CCI) said that it expects GNIDA and NOIDA officials to consider the issues raised on the complaints in a “non-adversarial” manner.

The commission has passed orders on three complaints – two filed by Credai and one by real estate firm Supertech. The Western Uttar Pradesh Chapter of CREDAI (Confederation of Real Estate Developers Association of India) filed a complaint against GNIDA and NOIDA, while Supertech filed a complaint against GNIDA.

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In an order dated May 4, the sentinel stated that there is no prima facials case. “Prior to partnering with this order, the Commission is not unaware of the scenario achieved in the real estate sector and the difficulties faced by developers in completing projects, some of which are completely beyond their control.

“The commission hopes and is confident that the Noida and GNIDA authorities will consider issues raised in these faces in a non-adversarial manner by calling a meeting with the developers and its representative body CREDAI. At the earliest,” the order said. The CCI noted that it was unwilling to intervene in the matter, noting that the lease deed came back in May 2007, March 2010, June 2010, October 2010, October 2010, January 2012, etc.

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“… no reasons have been detailed for approaching the Commission at this belated stage for impugning the terms of the lease deeds,” it added.

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