ISLAMABAD
\nThe Islamabad High Court has dismissed the writ petition filed by Kingdom Valley (Pvt.) Limited against the PKR 150 million penalty imposed by the Competition Commission of Pakistan (CCP). The Court ruled that the petition was not maintainable because the Competition Appellate Tribunal (CAT) is now functional.
\nThe petition was filed when CAT was not operational due to the absence of its chairman. At that time, the Court had granted an interim stay on recovery. During Wednesday\u2019s hearing, the petitioner argued the case in detail. The Court, however, noted that the Tribunal is now available as the proper forum for appeal.
\nCCP\u2019s counsel informed the Court that CAT has already taken up Kingdom Valley\u2019s appeal. He also stated that CAT has not granted any stay. After hearing both sides, the Court dismissed the writ petition for being not maintainable. This has cleared the way for the appeal proceedings before CAT.
\nEarlier, CCP had fined Kingdom Valley PKR 150 million for misleading advertising. The Commission found that the company marketed its project as \u201cKingdom Valley Islamabad,\u201d although the project is located in Mouza Choora, Rawalpindi. The company also misrepresented links with the Naya Pakistan Housing Program and NAPHDA. It advertised the project as \u201cNOC approved\u201d without proper disclosure. A two-member CCP bench held that the company violated Sections 10(2)(a) and 10(2)(b) of the Competition Act, 2010. The Commission also noted further non-compliance related to financial disclosures.
\nWith the High Court\u2019s decision, the matter will now proceed before the Competition Appellate Tribunal.
\nThe appeal is pending there, and no stay exists on CCP\u2019s order.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Islamabad High Court has dismissed the writ petition filed by Kingdom Valley (Pvt.) Limited against the PKR 150 million penalty imposed by the Competition Commission of Pakistan (CCP). The Court ruled that the petition was not maintainable because the Competition Appellate Tribunal (CAT) is now functional. The petition was filed when CAT was […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-515600","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n