DLF falls; TV report says court dismisses plea

Tue Nov 20, 2012 5:03pm IST

Employees from the electricity board work on overhead cables installed in front of the residential apartments constructed by property developer DLF at Gurgaon, on the outskirts of New Delhi, June 19, 2012. REUTERS/Parivartan Sharma/Files

Employees from the electricity board work on overhead cables installed in front of the residential apartments constructed by property developer DLF at Gurgaon, on the outskirts of New Delhi, June 19, 2012.

Credit: Reuters/Parivartan Sharma/Files

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REUTERS - Shares in DLF Ltd(DLF.NS) fell 2.4 percent, slightly extending losses after news channel CNBC TV18 reported the Delhi High Court has dismissed the property company's challenge against a probe being undertaken by markets regulator SEBI.

The TV station cited legal sources and did not give details of which probe by Securities and Exchange Board of India was being challenged by DLF.

DLF was not ready to comment immediately as they were yet to receive the court order, a spokesman said.

"We'll decide our next action after taking legal opinion," the spokesman said.

SEBI said in October 2012 it would investigate allegations DLF failed to disclose a police complaint against an associate firm in a 2007 share sale document.

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