PNB Housing Finance to remain under lens: Sebi
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Whether the deal goes through or not, the board approval in itself will have “legal consequences,” Sebi told the tribunal. The case will be heard again on Monday, when PNB Housing will get to counter Sebi’s arguments.
Agencies
PNB Housing said the matter was sub judice and it couldn’t comment. “As you are well aware that the issue of capital raise deal by the company is being heard by the honourable SAT.
PNB Housing Finance’s troubles may not end with the Securities Appellate Tribunal (SAT) verdict assuming this goes in favour of the company on the pricing of the ₹4,000 crore preferential allotment to the Carlyle Group. The Securities and Exchange Board of India (Sebi) told the SAT on Friday that it intends to investigate the role of PNB Housing’s directors and the company management regardless of the SAT ruling.
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