Supreme Court allows DLF units to sell shares, rejects Sebi plea for restraint order
Nov 04, 2015
Source : ET

 

NEW DELHI: The Supreme Court today allowed three DLF subsidiaries to sell shares worth Rs 12,000 crore to reduce debt, declining the regulator's plea to prevent the real estate group's move. The DLF stock was up 3.9 per cent at 11:24 am on the Bombay Stock Exchange.

 The Securities and Exchange Board of India (Sebi) had previously passed an order restraining DLF and its key directors including promoter KP Singh from directly or indirectly accessing the market or dealing with any securities over what it said was the violation of disclosure norms during the company's initial public offer in 2007. 

The securities appellate tribunal had set aside this order on an appeal by DLF. Sebi has challenged this in the top court. 

On Wednesday, the market regulator, through senior advocate CU Singh, sought a temporary restraint order against the DLF units selling their shares to offshore entities, but a bench of justices Jasti Chelameswar and Abhay Manohar Sapre refused to consider this. 

Instead, the bench directed the Sebi appeal to be listed for hearing. 

Latest Realty News

UAE-developers-to-exhibit-in-Dubai-Property-Expo-on-6th-Nov’15
Nov 03, 2015
Mumbai : Dubai Property Show is going be held at Bombay Exhibition Centre, Goregaon East, Mumbai, from 6th-8th November this year, where over 35 UAE developers shall showcase budget homes to luxury apartments, beach properties, villas, furnished apartments and commercial properties at the event.
Lucknow-Municipal-Corporation-lays-out-real-estate-venture-plan
Nov 03, 2015
LUCKNOW: The Lucknow Municipal Corporation (LMC) would realize its long-held dream of venturing into real estate post Diwali. The corporation has finalised tenders for building a huge commercial complex in Kamta, near the new high court building, and three residential projects - one behind Omaxe City on Rae Bareli Road and two others in Para. All these ventures are set to begin this month.
Supreme-Court-sets-2005-cut-off-on-women-right-to-ancestral-property
Nov 02, 2015
Delhi: In a ruling that will restrict the right of women seeking equal share in ancestral property, the Supreme Court has said that the 2005 amendment in Hindu law will not give property rights to a daughter if the father died before the amendment came into force.
SBI-Chief-for-Pricing-Parity-With-HFCs-on-Home-Loans
Nov 01, 2015
Mumbai: State Bank of India (SBI) chairperson Arundhati Bhattacharya on Saturday called for ending the "regulatory arbitrage" enjoyed by pure-play home financiers, which can lend below their prime lending rates whereas banks cannot.
Arun-Jaitley-Hopes-Low-Interest-Rates,-Inflation-to-Stay
Oct 31, 2015
Mumbai: Finance Minister Arun Jaitley said on Saturday he hoped interest rates and inflation would remain low to help revive the economy.
Subsidies-Can't-Be-Essence-of-Survival-for-Realty-Sector:-Jaitley
Oct 31, 2015
Mumbai: Hopeful that the age of slowdown will end soon for the real estate industry, Finance Minister Arun Jaitley on Saturday said the sector must survive on market economy and subsidies should not be the "essence of survival".
Canada-Pension-Fund-Ready-to-Invest-$2-Bn-in-Mumbai-Housing:-Maharashtra-Chief-Minister
Oct 31, 2015
Mumbai: Canada's pension fund is ready to invest $2 billion (Rs 13,000 crore at $1 = Rs 65) in affordable housing in Mumbai, Maharashtra Chief Minister Devendra Fadnavis said, in a move that would boost Prime Minister Narendra Modi's goal of providing cheap housing to millions of people.
CT-search-on-real-estate-developers,-jewellers
Oct 31, 2015
INDORE: Anti-evasion wing of commercial tax department, Madhya Pradesh, carried out search on the office and residential premises of some real estate developers, jewellers and telecom companies in city on Friday.
First-of-its-kind-app-for-booking-property-launched-
Oct 31, 2015
LUCKNOW: Eliminating brokers who take away a large commission for every deal in the real estate sector, Paarth Infrabuild Ltd has launched a mobile based app which will help subscribers to select and book properties of their choice.
Maharashtra-to-use-no-development-defence-zones-for-affordable-housing-in-Mumbai
Oct 30, 2015
MUMBAI: The government of Maharashtra is considering opening up land parcels under the no-development zones as well as plots belonging to Indian defence personnel in an effort to build affordable houses in Mumbai, said Prakash Mehta, minister of housing, labour & mines.

Latest Realty News Of State

Realty Talk's