Real estate stocks continued to remain under pressure in morning trade, with the Nifty Realty index plunging over 5%.
Shares of DLF were trading lower by 14% after plunging 17% in early trade after a media report said that the Supreme Court has issued a notice to DLF based on a petition that alleged how DLF had suppressed key information regarding judicial proceedings against its largest chunk of land-bank in Haryana.
According to a report in Business Line, the plea alleges that DLF did not mention key cases regarding the violation of the Haryana Land Ceiling Act, 1972, where adverse orders were passed by the Punjab and Haryana High Court against the DLF group companies and its admitted subsidiaries, and the matter is pending with the SC
This information was omitted in the 2019 QIP and the Bombay Stock Exchange (BSE) has sought a clarification from the company with regard to the report.
Meanwhile, DLF has issued a clarification stating that allegations made in the petition "are not material" and "incorrect.
Shares of DLF were trading lower by 14% after plunging 17% in early trade after a media report said that the Supreme Court has issued a notice to DLF based on a petition that alleged how DLF had suppressed key information regarding judicial proceedings against its largest chunk of land-bank in Haryana.
According to a report in Business Line, the plea alleges that DLF did not mention key cases regarding the violation of the Haryana Land Ceiling Act, 1972, where adverse orders were passed by the Punjab and Haryana High Court against the DLF group companies and its admitted subsidiaries, and the matter is pending with the SC
This information was omitted in the 2019 QIP and the Bombay Stock Exchange (BSE) has sought a clarification from the company with regard to the report.
Meanwhile, DLF has issued a clarification stating that allegations made in the petition "are not material" and "incorrect.
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