HC rejects DLF’s plea against Sebi order

The Delhi High Court dismissed DLF Ltd’s petition against Sebi’s order to investigation into a complaint alleging the realty major’s association with Sudipti Estates

Written by Utkarsh Anand | New Delhi | Published:January 4, 2012 1:08 am

The Delhi High Court on Tuesday dismissed DLF Ltd’s petition against Sebi’s order to investigation into a complaint alleging the realty major’s association with Sudipti Estates and violations of the provisions of Sebi (Disclosure and Investor Protection) Guidelines,2000.

Imposing a fine of Rs 2 lakh on the company,Justice Sanghi said the order was “based on reasons”. “A perusal of the impugned order (of Sebi) shows that it certainly cannot be said that it has been passed arbitrarily or is irrational. The impugned order is clearly based on reasons which are relevant and material,” it said.

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