shares tumbled 20 per cent to Rs 137.75 apiece, also its fresh 52-week low, in early morning trade on the BSE on Thursday after the Supreme Court (SC) issued the company a notice based on a plea that alleged the company of hiding information on pending cases regarding Haryana land-bank from its shareholders.
According to a report in Business Line
, the petition highlighted how DLF
had suppressed key information regarding judicial proceedings against the company's largest chunk of land-bank in Haryana. The plea alleges that DLF
failed to mention key cases regarding the violation of the Haryana Land Ceiling Act, 1972, where adverse orders were passed by the Punjab and Haryana High Court against the DLF group companies and its admitted subsidiaries, and the matter is pending with the SC.
All this was omitted in the 2019 QIP (qualified institutional placement) prospectus, the petitioner has alleged.