Not done anything wrong knowingly: DLF's KP Singh

Source : CNBC-TV18: Dec 02, 2011 at 15:08:

DLF has not done anything wrong knowingly, says chairman Kushal Pal Singh. However, he admitted that inadvertently mistakes can happen.

Last month, the Competition Appellate Tribunal (Compat) stayed the Rs 630 crore penalty imposed by fair trade watchdog Competition Commission of India (CCI) on DLF, India’s biggest real estate firm by market value, over alleged abuse of dominant market position.

Speaking to exclusively to CNBC-TV18's Sheeren Bhan, Singh said that he is confident of DLF’s case at the Compat. “My son Rajiv drives the company. I know his philosophy. He is a very hard taskmaster. He is very clearheaded. He makes no moans about it and he deals in a manner according to rules and regulations. But sometimes people misunderstand,” he said.

Shifting focus to reforms, Singh said. FDI in multi-brand retail is a very progressive step. But on the Land Acquisition bill, he said, the 80% consent nod is not a practical one.

"I think townships must not be kept of public purpose definition."