Sebi to probe DLF for RHP mis-statement

The Securities and Exchange Board of India Sebi has said it will probe DLF for alleged mis-statement in its Red Herring Prospectus while launching its IPO in 2007. The Delhi High Court had earlier directed Sebi to conduct the probe after it was alleged by a person that DLF had intentionally made a false statement that it had no association with Sudipti Estates,one of its subsidiary against which a criminal case was filed.

It will investigate into the allegations levelled by the complainant,Kimsuk Krishna Sinha in respect of DLF and Sudipti Estates. The said investigation shall focus on the violations,if any,of the provisions of the erstwhile Sebi Disclosure and Investor Protection Guidelines,2000 read with the relevant provisions of the Companies Act,1956, said a Sebi order.