CCI Orders Re-Investigation of ‘Omkar 1973 Worli’ & ‘The Summit Business Bay’

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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