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Shares of DLF, leading real estate company, are trading nearly 4% lower to Rs 131.30 on the Bombay Stock Exchange (BSE) on reports stating the Supreme Court has issued a notice on a plea by the Securities and Exchange Board of India (Sebi), challenging an order of its appellate authority, Securities Appellate Tribunal (SAT), in relation to the aforementioned company.
The regulator had moved the apex court last week seeking an interim stay on the SAT order and expunction of certain observations. Kimsuk Krishna Sinha, the former business partner of DLF on whose complaint Sebi had initiated investigations against the real estate company and passed ban orders, has also filed a separate appeal in the matter.
A Bench headed by judge J Chelameshwar issued the notice after hearing the Sebi counsel.
The stock opened at Rs 136.70, touched a high of Rs 136.90 and a low of Rs 130.20 on the BSE. By 1 PM, a total of 773,285 shares changed hands on the BSE.
