DLF Ltd slips as High Court cancels 300-acre land allotment
The Punjab and Haryana High Court set aside an order of Haryana government whereby it had transferred over 300 acres of land in Gurgaon to DLF.
By ET Online |
NEW DELHI: DLF Ltd plunged as much as 8.76 per cent in trade on Thursday, after the Punjab and Haryana High Court set aside an order of Haryana government whereby it had transferred over 300 acres of land in Gurgaon to DLF.
At 11:00 a.m.; DLF was trading 7.78 per cent lower at Rs 168.70. It hit a low of Rs 167 and a high of Rs 175.90 in trade today.
The High Court has ordered that the land be returned to Haryana government and asked to allot the land through international bidding. DLF can also participate in the fresh bidding process, ET reported.
A division bench comprising Justices Surya Kant and Amol Ratan Sidhu on Wednesday pronounced the order deciding a petition filed by residents of Wazirabad village, added the report.
It was in the year 2012 that the residents had petitioned the Punjab and Haryana High Court challenging the Haryana's government's action of acquiring land in Gurgaon before selling it off to DLF.
At 11:00 a.m.; DLF was trading 7.78 per cent lower at Rs 168.70. It hit a low of Rs 167 and a high of Rs 175.90 in trade today.
The High Court has ordered that the land be returned to Haryana government and asked to allot the land through international bidding. DLF can also participate in the fresh bidding process, ET reported.
A division bench comprising Justices Surya Kant and Amol Ratan Sidhu on Wednesday pronounced the order deciding a petition filed by residents of Wazirabad village, added the report.
It was in the year 2012 that the residents had petitioned the Punjab and Haryana High Court challenging the Haryana's government's action of acquiring land in Gurgaon before selling it off to DLF.
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