Oct. 21 (Bloomberg) -- DLF Ltd., India’s biggest real estate developer, fell in Mumbai trading after the nation’s market regulator said it will investigate a complaint against an affliate company.
The Securities and Exchange Board of India, the nation’s capital market regulator, said it will probe a complaint by an investor claiming a company associated with DLF cheated him of about 340 million rupees, according to an order on the regulator’s website.
“This is an old commercial dispute between the complainant and an erstwhile affiliate of DLF,” Sanjey Roy, spokesman at DLF said in a phone interview today. “The complainant is not an investor in the company. We are studying the order.”
To contact the reporter on this story: Shikhar Balwani in Mumbai at email@example.com
To contact the editor responsible for this story: Arijit Ghosh at firstname.lastname@example.org