SAT adjourns DLF appeal to Monday

Company's counsel today pleaded before the tribunal that Sebi's order be set aside

The Securities Appellate Tribunal on Friday adjourned the hearing of real estate company DLF to Monday.

The company's counsel on Friday pleaded before the tribunal that the market regulator's order be set aside.

He said the Securities and Exchange Board of India (Sebi)'s order, barring the company from accessing the capital market, had paralysed the company as it was unable to float any debentures or bonds.

Sebi has barred DLF and five other officials for three years for failing to make adequate disclosures in its Initial Public Offering (IPO).

Sebi's counsel is likely to present its arguments on Monday.