CCI rejects complaint against Indiabulls Housing Finance

Fair trade regulator CCI Wednesday dismissed a complaint alleging unfair and discriminatory trade practices by Indiabulls Housing Finance regarding loan agreement. Disposing of the complaint, the regulator said prima facie the case does not contravene the provisions of Sections 3 and 4 of the Competition Act. Section 3 and 4 pertain to anti-competitive agreement and abuse of dominant market position, respectively. The ruling came on a complaint filed by an Ahmedabad-based group of four individuals who had availed housing loan worth over Rs 47 lakh from Indiabulls in 2008.