Sebi bars DLF and its chief KP Singh from securities market for 3 years
SEBI finds the company guilty of "active and deliberate suppression" of material information at the time of its public offer
Oct 13, 2014
Source : The Times of India
DLF

 

MUMBAI: Regulator Sebi has barred realty major DLF, as also six top executives including chairman K P Singh, from securities markets for three years, after finding the company guilty of "active and deliberate suppression" of material information at the time of its public offer.

Those prohibited from the markets including Singh's son Rajiv Singh (vice-chairman) and daughter Pia Singh (wholetime director), Sebi said in its order.

"I find that the case of active and deliberate suppression of any material information so as to mislead and defraud the investors in the securities market in connection with the issue of shares of DLF in its IPO is clearly made out in this case," Sebi's whole-time member Rajeev Agarwal said in his 43-page order.

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