SAT to hold final hearing on DLF plea
Securities Appellate Tribunal (SAT) will hold on September 13 the final hearing on real estate major DLF’s plea against the Rs 86 crore penalty imposed on it by capital market regulator SEBI.
In February last year, SEBI had slapped fines totaling Rs 86 crore on DLF, its top executives, their family members and various other related entities for alleged fraudulent transactions during its initial public offer (IPO) in 2007. DLF and the penalized entities appealed the SEBI order before the tribunal. However, the tribunal listed the matter ‘for directions’ for September 13 and is subsequently expected to pass a ruling.