The Delhi High Court has directed stock market regulator SEBI to conduct probe against real estate giant DLF for alleged mis-statement in its Red Herring Prospectus while launching its IPO in 2007. The court passed the order after it was alleged by a person that the DLF had intentionally made a false statement that it had no association with Sudipti Estates Pvt Limited, one of its subsidiary companies against which a criminal case was filed for duping him Rs 31 crore.
“A direction is issued to the SEBI to undertake an investigation into the complaints made by the petitioner,” Justice S Muralidhar said, adding that the inquiry would be completed within three months. Earlier, SEBI had refused to entertain the complaint filed by petitioner Kimsukh K Sinha on the ground that it was filed a day before IPO was to close.

Tags:

More Under SEBI

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930