The Competition Commission of India (CCI) has dismissed allegations of misleading advertisements and abuse of dominance levelled against Indiabulls Housing Finance and 19 of its executives, including the MD and Chairman.
A complaint had been filed alleging that the housing finance company had misused its market position to offer property loans at attractive interest rates through deceptive advertising. However, after a thorough investigation, the CCI found no evidence to substantiate these claims.
The competition watchdog determined that the market for property loans in India is highly competitive, with numerous banks, non-banking financial companies, and housing finance firms operating within it. Consequently, it concluded that Indiabulls Housing Finance did not hold a dominant position in the relevant market.
With this ruling, the CCI has dismissed the case, bringing an end to the allegations against the housing finance company.
