Shares in DLF fell as much as 3 per cent, after reports in the Business Standard that the Securities and Exchange Board of India (SEBI) has moved the Supreme Court against the companies plans to monetize its rental properties.
The newspaper reported that SEBI has moved the Supreme Court, seeking a restraint order on the plans of realty major DLF to monetise its rental properties. The court has admitted the application and listed it for hearing on October 30.
The shares were last trading lower by 2.5 per cent in the Bombay Stock Exchange.
In Oct last year, SEBI passed an order barring the company and its executives from the capital markets. Earlier in Feb this year, SEBI imposed a fine on the company.