DLF goes 'SAT' into the red!
By
Research Desk
about 9 years ago
DLF is down deep in the red today. After falling nearly 5% to Rs.130 levels, the price has recouped a bit now to Rs.131 levels, though it continues to remain over 3% down.
The stock is down on reports emerging that the Supreme Court (SC) has refused to stay the Securities Appellate Tribunal (SAT) order in DLF IPO disclosure breach case. Last year, in Oct, SEBI had issued a 3-year ban on the promoters and related entities from the market as it had found the promoters guilty of not disclosing certain information when it has filed for the IPO in 2007.
The SAT in March’15, went and squashed this order of SEBI and now the same ‘squashed’ order of SAT, the SC has refuted. Thus as of now, SEBI’s original order of ban on DLF stands.