CCI: NCLT Extinguishes Liabilities, Ends Anti-Profiteering Proceedings

Director General of Anti-Profiteering Vs Puma Realtors Pvt. Ltd. (Competition Commission of India) Issue No. 1 addressed whether Anti-Profiteering proceedings initiated against Puma Realtors under Section 171 of the CGST Act should continue post the NCLT order dated 01.06.2021. The commission considered the NCLT’s order, which extinguished all liabilities, including passing on the benefit of ITC. Consequently, the proceedings were discontinued. Issue No. 2 examined the directions to investigate M/s One Group Developers, who took over the project ‘Ire° Rise’ as per NCLT’...