SEBI passes orders against DLF Ltd and its directors

DLF Ltd has been made aware of adjudication orders passed by SEBI under Section 15 of the SEBI Act, 1992 against DLF, its directors and other notices. We are presently reviewing the said Orders and after taking appropriate legal advice, we will challenge the said Orders in appeal. On similar facts, SEBI had earlier passed an Order dated October 10, 2014 inter alia under Section 11 of the SEBI Act, 1992 against DLF Ltd. and its directors, which Order was challenged by the company before the Hon'ble Securities Appellate Tribunal.
DLF wish to reassure its investors and all other stakeholders that it has not acted in contravention of law either during its initial public offer or otherwise. DLF and its board were guided by and acted on the advise of eminent legal advisors, merchant bankers and audit firms while formulating its offer documents. DLF will defend itself to the fullest extent against any adverse findings and measures contained in the Orders passed by SEBI. DLF has full faith in the judicial process and is confident of vindication of its stand in the near future.

Shares of DLF LTD. was last trading in BSE at Rs.155.75 as compared to the previous close of Rs. 150.3. The total number of shares traded during the day was 1952929 in over 21540 trades.

The stock hit an intraday high of Rs. 156.55 and intraday low of 147.1. The net turnover during the day was Rs. 297939707.

Source : Equity Bulls

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