Director General of Anti-Profiteering Vs Omkar Realtors and Developers Pvt. Ltd. (Competition Commission of India)
Introduction: The wheels of justice turn with meticulous precision, often requiring revisits and re-examinations to ensure fairness. In a recent development, the Competition Commission of India (CCI) has directed the Director General of Anti-Profiteering (DGAP) to conduct a re-investigation into two significant real estate projects, ‘Omkar 1973 Worli’ and ‘The Summit Business Bay.’ The report, dated 15.02.2023, provides the initial findings and directives issued by the National Anti-Profiteering Authority (NAA).
Detailed Analysis:
1. Background: The genesis of this investigation lies in the directives of the NAA, particularly Order No. 51/2022 issued on 29.07.2022. This order instructed the DGAP to scrutinize ‘Crescent Bay,’ a project situated at Parel, Mumbai, developed by Omkar Realtors and Developers Pvt. Ltd. (Respondent No. 1) and M/s L&T Parel Project LLP. However, the scope expanded to encompass two additional projects, ‘Omkar 1973 Worli’ and ‘The Summit Business Bay.’ The report, received on 15.02.2023, unveils the initial findings, shedding light on the intricacies of the investigation.
2. Projects Overview:
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- ‘Omkar 1973 Worli’: This project, designed with a focus on slum rehabilitation, comprised three towers housing a total of 483 units. The primary objective was to provide permanent housing for slum dwellers, with additional units allocated for sale.
- ‘The Summit Business Bay Andheri’: A project with 342 units, strategically planned to house slum dwellers permanently. The project received the Occupancy Certificate.
Both projects, ‘Omkar 1973 Worli’ and ‘The Summit Business Bay,’ became subjects of an Interim Order (02/2023) dated 31.07.2023, directing further investigation into specific aspects of these projects.
3. DGAP’s Findings: The DGAP’s report, dated 15.02.2023, delves into the details of both projects:
