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The Securities Appellate Tribunal adjourned the DLF versus SEBI case to July 9. SAT directed DLF to file a rejoinder within four weeks. SEBI has been asked to reply in six weeks. DLF had appealed against a SEBI order dated October 13, 2014, which banned DLF and six of its directors KP Singh (Chairman), Rajiv Singh, TC Goyal, Pia Singh, Kameshwar Swarup and Ramesh Sanka from trading in the securities market for three years. SEBI found them indulging in fraudulent and unfair trade practices and held them guilty of suppressing information, particularly on legal cases, in the red-herring prospectus of DLF’s IPO.
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