HC tells Sebi to probe DLF’s IPO disclosure

New Delhi: The Delhi High Court has directed Sebi to probe real estate giant DLF for alleged mis-statement in its red herring prospectus while launching its IPO in 2007.      The court passed the order after it was alleged by a person that DLF had intentionally made a false statement that it had no association with Sudipti Estates, one of its subsidiary companies, against which a criminal case was filed for duping him Rs 31 crore.      "A direction is issued to the Sebi to undertake an investigation into the complaints made by the petitioner," Justice S Muralidhar said, adding that the probe would be completed in three months. AGENCIES