DLF vs Sebi: SAT rules in favour of DLF; stock soars 9%

NEW DELHI: Stock of DLF surged as much as 9 per cent in trade today after Securities Appellate Tribunal ( SAT) in an appeal against Sebi, ruled in favour of DLF.

Sebi in an earlier ruling barred the realty major and six of its top executives, including chairman KP Singh, from markets for three years.

The case dates back to October 2014, when the stock market regulator found the entity and its top executives guilty of 'active and deliberate suppression' of material information at the time of its IPO in 2007.

It was argued that the company tried to mislead investors.

The IPO of DLF IPO in 2007 had garnered Rs 9,187 crore. It was the biggest domestic IPO at that time.