The stocks and shares of the major realty firm of the country, DLF fell round 2% as a consequence of the statement by the stock market regulator, the Securities and Exchange Board of India (SEBI). The board has said that it would examine the allegations made by a Delhi based businessman against the realty firm. The capital market regulator has agreed to investigate the whole matter after the allegations of the Delhi businessman against DLF Sudipti Estates Pvt Ltd.
According to a real estate consultant, the company’s operations may not experience any impact due to the SEBI’s investigations but its goodwill can surely be impacted in the market. The businessman has accused the top realty firm for deceiving him for Rs. 34 crores. According to a draft prospectus filed by DLF for its public issue, it had included Sudipti as an associate company but in the later version of the prospectus of 2007, it wasn’t included.
If the businessman is to be believed than the Sudipti, DLF home developers, DLF estate developers are all sister concerns and part of the same group but DLF alleges that it is not so and both are managed by different persons. The Delhi High Court has directed the regulator to investigate the matter and subsequently pass an order within three months.
According to a real estate consultant, the company’s operations may not experience any impact due to the SEBI’s investigations but its goodwill can surely be impacted in the market. The businessman has accused the top realty firm for deceiving him for Rs. 34 crores. According to a draft prospectus filed by DLF for its public issue, it had included Sudipti as an associate company but in the later version of the prospectus of 2007, it wasn’t included.
If the businessman is to be believed than the Sudipti, DLF home developers, DLF estate developers are all sister concerns and part of the same group but DLF alleges that it is not so and both are managed by different persons. The Delhi High Court has directed the regulator to investigate the matter and subsequently pass an order within three months.
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