Competition Commission has dismissed allegations of unfair business practices made against realty firm Swadesh Developers and Colonisers and public sector lender Bank of India.
After finding no prima-facie evidence of competition norms' violations by the two entities, the fair trade regulator decided to reject the allegations.
The complaint pertains to the booking of a duplex, developed by Swadesh Developers in Bhopal and that the developer insisted on availing loan from Bank of India.
In its order dated July 2 and made public today, the watchdog said there is "no prima facie case" of competition norms being violated by the entities.
Competition Commission of India (CCI) also observed that neither the complainant has provided any cogent material nor any information is available in the public domain to show any arrangement between the opposite parties that amounts to violation of competition norms.
It was also alleged that Bhopal-based Swadesh Developers did not provide necessary documents to the complaint for availing home loan from other banks which were offering interest rates lower than that of Bank of India.
