DLF, one of the largest real estate companies in India, has filed an appeal before Securities Appellate Tribunal (SAT) against capital market watchdog Securities and Exchange Board of India’s (SEBI) order slapping Rs 26 crore penalty on it for indulging in fraudulent and unfair trade practices.
Earlier in February, SEBI, in the biggest-ever penalty in a single case, had imposed penalties on DLF, its top executives, their family members and various other related entities for entering into ‘sham transactions’. The violations were found with regard to suppressing key information at the time of the realty major’s IPO in 2007.
DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation.
