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SEBI Imposes Rs 52 crore penalty on DLF

27 Feb 2015

The Securities and Exchange Board of India (SEBI) has imposed fines of Rs 52 crore on DLF and seven others, including Chairman K P Singh, for fraudulent and unfair trade practices, while penalties totalling Rs 34 crore were slapped on 33 related entities.

The orders come after SEBI in October last year barred DLF and its six top executives from markets for three years for suppressing key information at the time of its IPO in 2007, including about certain transactions involving an associate company named Sudipti Estates. SEBI concluded then that the property developer wilfully withheld details of all of its subsidiaries, as well as details of legal cases pending against those companies when it filed its IPO documents.

DLF has divided its real estate business in two parts - DevCo, under which all residential projects fall and RentCo, which is the rental business from office and retail projects.

DLF Share Price

294.70 -2.10 (-0.71%) Jun 18, 18:03
1 Year Price Chart
Company Name CMP
Dilip Buildcon 554.05
NBCC (India) 54.35
Sobha 499.20
JMC Projects (India) 111.85
Prestige EstatesProj 282.25
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SEBI Registered: Investment Adviser - INA000013323