Sebi bars DLF from capital markets for three years

The Securities and Exchange Board of India (Sebi) on Monday barred property developer DLF Ltd and some of its executives from accessing capital markets for three years, citing non-disclosure violations related to its 2007 initial public offering.

Regulator Sebi was investigating whether the property developer disclosed in its IPO documents the names of all of its subsidiaries and the legal cases pending against those companies.

In a 43-page order, Sebi said it will bar DLF and its chairman K.P. Singh along with five other company executives from accessing capital markets for three years.

A DLF spokesman was not immediately available for comment.

(Reuters)