DLF tumbles 20% as SC issues notice on non-disclosure of key information

DLF issued a clarification saying that allegations made in the petition "are not material" and "incorrect."

DLF shares tumbled 20 per cent to Rs 137.75 apiece, also its fresh 52-week low, in early morning trade on the BSE on Thursday after the Supreme Court (SC) issued the company a notice based on a plea that alleged the company of hiding information on pending cases regarding Haryana land-bank from its shareholders.

According to a report in Business Line, the petition highlighted how DLF had suppressed key information regarding judicial proceedings against the company's largest chunk of land-bank in Haryana. The plea alleges that DLF failed to mention key cases regarding the violation of the Haryana Land Ceiling