Ackruti City taking legal advice on SEBI ban order

MUMBAI: Realty major, Ackruti City, on Friday said that it was taking legal advice to challenge the SEBI order banning it and its promoters from trading on the stock exchanges.

"We are taking legal advice to challenge the order with the appropriate authorities," Ackruti City's Managing Director, Vimal Shah, said in a statement here.

"As a matter of policy, we follow fair business practises and respect the law of the land," he added in the statement.

Yesterday, capital market regulator, SEBI, had banned four companies, Ackruti City, Murli Industries, Welspun Gujarat Stahl Rohren and Brushman India and their respective promoters from trading on the stock exchanges for allegedly indulging in unfair trading practises.