Second Sebi hurdle for DLF

Country's largest realty player DLF is facing another proceeding by market regulator Securities and Exchange Board of India (Sebi), the second in recent months. In the earlier one, Sebi had banned DLF and its promoters from accessing capital markets for a period of three years.

While the details of the case could not be ascertained, DLF told BSE it had already made its submissions to Sebi and hearings have concluded with regard to a show-cause notice issued to it by Sebi in August 2013. "The order from SEBI on the said notice is awaited," DLF said in its notes to financial results the for second quarter ended September 30.

This notice was issued by Sebi on August 28, 2013, while the regulator had already passed its order against DLF and six others last month with regard to a notice issued on June 25, 2013.