DLF Says Will Defend Itself Against SEBI's Order

DLF sent a statement to the Bombay Stock Exchange on Tuesday, a day after Securities and Exchange Board of India barred the realty major and six of its top executives from tapping the capital markets for three years.

DLF said it will defend itself against the order passed by Sebi. The company said it did not act in contravention of the law "either during its initial public offer or otherwise".

Here is the complete statement,

DLF has informed BSE that: "The Order dated October 10, 2014 passed by the Hon''ble Whole Time Member of SEBI has come to the notice of DLF Ltd. only on October 13, 2014. The same is being reviewed by DLF and its legal advisors. DLF and its Board wish to reassure its investors and all other stakeholders that it has not acted in contravention of law either during its initial public offer or otherwise. DLF and its board were guided by and acted on the advise of eminent legal advisors, merchant bankers and audit firms while formulating its Offer documents. DLF will defend itself to the fullest extent against any adverse findings and measures contained in the Order passed by SEBI. DLF has full faith in the judicial process and is confident of vindication of its stand in the near future."