DLF had filed a plea to SAT against a Sebi ruling that barred it and its six top executives, including chairman K P Singh, from accessing the capital markets for three years.
DLF can heave a sigh of relief. The Securities Appellate Tribunal (SAT) on Friday quashed the restraint order by the Securities and Exchange Board of India (Sebi) against the realty giant.
DLF had filed a plea to SAT against a Sebi ruling that barred it and its six top executives, including chairman K P Singh, from accessing the capital markets for three years.
SAT today reduced the DLF's three-year ban from capital market to six months.
The SEBI order was quashed by SAT via 2:1 majority. SAT said that no shortcoming was found in DLF's IPO prospectus.
The Appellate body further said that adequate disclosures were made by DLF in 2007 IPO. SAT said that SEBI should not be influenced by whistleblowers.
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