The real estate giant DLF had moved to the Securities Appellate Tribunal against the order of the Securities and Exchange Board of India (SEBI) which had barred the top executives of the company including the chairman from dealing into securities in the market and raising money from the public for three complete years.
The order had been made against the organisation by SEBI for non-disclosures of the material contracts by the Company to the regulator at the time of the offer made by the Company. Due to the suppression of this extremely important information which had wrongly induced the investors to invest the money in the company, has taken this company on the black list of the securities market regulator.
Against this default SEBI had initiated an order against the Company which has caused harassment to the Company and the company has moved to the Securities Appellate Tribunal and has filed an appeal against this impugned order to set aside such order and grant relief to the Company which is just and equitable.
