Competition Commission has dismissed allegations that Prateek Realtors India abused its dominant position with regard to sale of an apartment in Noida, Uttar Pradesh.
After finding that the entity is not a dominant player in the relevant market, the Competition Commission of India (CCI) dismissed the complaint.
It was alleged that the company abused its dominant position by imposing unfair terms and conditions in the sale agreement with regard to allocation of a residential apartment in the 'Prateek Laurel' complex in Noida.
For this case, the watchdog considered "the provision of services for the development and sale of residential unit in Noida and Greater Noida" as the relevant market.
According to the CCI, there are many other players operating and providing similar products to the consumers in the relevant market.
"The residential units being developed by other major players can be considered as substitutes and hence, provides multiple options to the consumers in the relevant market," the regulator said in an order dated June 1.
Rejecting the allegations, CCI said "no case of contravention of the provisions of Section 4 of the Act is made out against OP 1 (Prateek Realtors)".
Section 4 of the Competition Act pertains to abuse of dominant position.
