SEBI seeks SC to bar DLF from market |
The Securities and Exchange Board of India (SEBI) has approached the Supreme Court of India to seek direction for a three-year market ban on real estate giant DLF and its six top officials, including chairman K P Singh and his children Rajiv Singh and Pia Singh. The market regulator had approached the Court challenging a Securities Appellate Tribunal (SAT) order which had quashed its order to bar DLF and its promoters from the market. SEBI had in October 2014 barred DLF and six others from the capital markets for three years alleging `active and deliberate suppression of material facts` in the approximate Rs 9,000 crore IPO in 2007.
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