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ARTICLE · 22 APRIL 2015

SEBI Order Against DLF: Reversed

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DLF Limited (Delhi Land & Finance) is one of the largest commercial real estate developers in India. DLF's primary business is development of residential, commercial and retail properties.

IndiaCorporate/Commercial Law
Arpita Karmakar
Arpita Karmakar
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DLF Limited (Delhi Land & Finance) is one of the largest commercial real estate developers in India. DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.

Ingredients of the Case

The company and its directors along with the Chief Financial Officer (CFO) came into the clutches of SEBI (Securities Exchange Board of India), when the Board passed an order against it dated October 10, 2014, restraining them to access the securities market and also prohibiting from buying, selling and otherwise dealing in any manner for a period of three years. The company preferred an appeal to Securities Appellate Tribunal (SAT), against the impugned order.

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