Meantime, SAT has stayed the penalty. In October last year, Sebi passed an order against DLF for non-disclosure of key information in its initial public offer (IPO) document of 2007. The company had raised around Rs 9,000 crore in what was the biggest-ever IPO then.
Sebi had barred DLF and six of its senior officials from accessing capital markets for a period of three years in order, which got set aside by SAT last month, While the case was being heard, Sebi passed another order, levying a penalty of Rs 86 crore on DLF and the related entities.