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DLF falls; TV report says court dismisses plea

Source : REUTERS
Last Updated: Tue, Nov 20, 2012 17:24 hrs
Employees from the electricity board work on overhead cables installed in front of the residential apartments constructed by Indian property developer DLF at Gurgaon

Shares in DLF Ltd fell 2.4 percent, slightly extending losses after news channel CNBC TV18 reported the Delhi High Court has dismissed the property company's challenge against a probe being undertaken by markets regulator SEBI.

The TV station cited legal sources and did not give details of which probe by Securities and Exchange Board of India was being challenged by DLF.

DLF was not ready to comment immediately as they were yet to receive the court order, a spokesman said.

"We'll decide our next action after taking legal opinion," the spokesman said.

SEBI said in October 2012 it would investigate allegations DLF failed to disclose a police complaint against an associate firm in a 2007 share sale document.



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