Deposit Rs.630 crore penalty, SC to DLF

Deposit Rs.630 crore penalty, SC to DLF
New Delhi, Aug 27 (IANS) The Supreme Court Wednesday penalised real estate giant DLF Rs.630 crore for exploiting its dominant position to the disadvantage of its customers in three projects in Gurgaon.

An apex court bench of Justice Ranjana Prakash Desai and Justice N.V. Ramana said that DLF would furnish an undertaking to pay Rs.170 crore interest on the penalty of Rs.630 crore or the amount court may direct it to pay if its appeal falls in the Supreme Court.

The court said that DLF will deposit Rs.50 crore of the Rs.630 crore within three weeks and the balance of Rs.580 crore within three months from Wednesday. The court directed the registry to put this amount in a fixed deposit in a nationalised bank.

Read more about: dlf
Story first published: Wednesday, August 27, 2014, 14:48 [IST]
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