Thursday, September 4, 2014

Haryana HC cancels DLF's 350-acre, Rs 1,750 cr land allotment

DLF Building India
The Punjab and Haryana High Court on Wednesday set aside the Haryana government’s decision to allot 350 acres of land in Wazirabad, Gurgaon, to the country’s largest real estate developer DLF in 2010.

This the second blow to DLF in the past week. The Supreme Court had on August 27 directed the company to deposit Rs 630 crore in its registry within three months, rejecting its request to stay the order of the Competition Commission of India (CCI) that had imposed the penalty over unfair trade practices.

A division bench of the high court, comprising Justice Surya Kant and Justice Amol Rattan Singh, directed the Haryana government to conduct an auction of the land in question by inviting international bids within a month. However, DLF would be able to participate in the auction process, according to a report by news agency PTI.

Read More: http://www.business-standard.com/article/companies/dlf-s-350-acre-haryana-land-allotment-axed-114090301185_1.html

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