SEBI Prohibits DLF From Accessing Capital Markets For 3 Years

Citing non-disclosure violations related to its 2007 initial public offering (IPO), market watchdog Securities and Exchange Board of India (SEBI) on Monday barred property developer DLF Ltd and some of its executives from accessing capital markets for three years.

SEBI was probing whether the property developer disclosed in its IPO documents the names of all of its subsidiaries and the legal cases pending against those companies.

In a 43-page order, SEBI announced it will bar DLF and its chairman KP Singh, along with five other company executives, from accessing India's capital markets for three years. However, DLF spokesman was not immediately available for comment.
(Image: DLF)