Millennium Post

SAT to hear DLF’s plea against Sebi order today

The Securities Appellate Tribunal (SAT) will on Wednesday hear realty giant DLF's appeal against the Sebi order that barred the company and six top executives from accessing capital market for three years. In a major blow to DLF, the order had been passed by Securities and Exchange Board of India (Sebi) for "active and deliberate suppression" of material information at the time of its initial public offer (IPO) over seven years ago.

DLF's initial public offer in 2007 had fetched Rs 9,187 crore — the biggest IPO in the country at that time. DLF had informed the Bombay Stock Exchange BSE that the company has filed an appeal before SAT challenging the Sebi order and the appeal would be heard by SAT on Wednesday.


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