DLF responds to allegation; stock down

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    DLF responds to allegation; stock down
    DLF: Quotes, News
    BSE 163.10BSE Quote0.45 (-0.28%)
    NSE 163.00NSE Quote0.4 (-0.25%)
    DLF responding to the allegation made by Arvind Kejriwal said that due to paucity of time, they are issuing a short factual rebuttal in this regard.
     

    "Shri Kejriwal's allegations largely centre around issues which are already in the public domain and are well disclosed. It is unfortunate that an attempt is being made to sensationalise the same", DLF said in the press release.

    The stocks of the company was seen trading lower by 2.77% at Rs 218 on BSE at 9.40 am IST. It touched intra-day low of Rs 216.

    Responding to the allegation DLF said:

    • Is there a nexus between DLF and Government of Haryana?

    With reference to the 30 acres of SEZ development by DLF on land purchased from East India Hotels, the order of the Hon'ble High Court of Punjab & Haryana has been stayed by the Hon'ble Supreme Court of India vide its orders dated 20th June 2011 and 26th September 2011.The matter is subjudice and is awaiting hearing.

    • Robert Vadra was majority shareholder in DLF SEZ Holdings Pvt. Ltd.

    In the DLF SEZ Holdings Pvt. Ltd., 50% of shareholding was acquired by M/s. North India IT Parks Pvt. Ltd. in October 2008 at the face value of Rs. 2.50 Lacs. The said 50% shareholding was subsequently bought back from M/s. North India IT Parks Pvt. Ltd. in September 2009 fully at face value of Rs. 2.50 Lacs, as the proposal for developing SEZs could not take off due to deep recession in the market in year 2009. No benefit or gain was made by Mr. Vadra or DLF, in this regard. We wish to clarify that this proposal had nothing to do with SEZ being developed or developed by DLF (including the one referred above). Mr. Vadra, neither had nor has any interest in the various SEZs of DLF in any manner.

     
    • 350 Acres land given to DLF

    In our earlier press statement, we had confirmed that this land was allotted through an international bidding tender. This matter is subjudice before the Hon'ble High Court of Punjab & Haryana. We stand by our statement.

    • Increased FAR for DLF

    This project was approved way back in 1995 as stated in our earlier press release. In subsequent revisions of Master Plan, no changes in FAR or density have taken place. Hence, no benefit has accrued to DLF by the said revisions in the Master Plan.

    • Land Acquisition cancelled in Manesar to favour DLF

    DLF or any of its companies never purchased any land in the residential sectors of Manesar as referred in the statement by Shri Kejriwal. Acquisition proceedings were withdrawn by Government of Haryana on 24 August 2007, whereas DLF acquired development rights much later from other developers to develop two licensed group housing projects only on 11 April 2008. These group housing projects are under development after obtaining all due approvals.

    • DLF reply - a bunch of lies

    We stand by our earlier statement and wish to once again specifically state that DLF has neither sought nor enjoyed any special favours from the Government of Haryana and all developments of DLF undertaken over the last four decades are strictly in compliance with all applicable laws, rules and regulations with an adherence to the highest ethical standards.

    GoodReturns.in

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