New Delhi: A petition has been filed against realty major DLF in the Delhi High Court seeking direction to stock market regulator SEBI to investigate into the affairs of the company which allegedly duped him of Rs 31 crore.

The petition was filed by one Kimsuk Sinha, alleging that he entered into a business transaction with Sudipti Estates Pvt Ltd which was owned and controlled by DLF. It came up for hearing before Justice S Ravinder Bhatt who directed the petitioner to file additional documents in his support and adjourned the hearing.

Sinha has not given details of business transactions between him and the company and how he was deceived. Sinha had also filed complaint before SEBI which he said went unheeded. Contending that SEBI failed to discharge its duty, Rajneesh Chopra, appearing for the petitioner, said that instead of carrying out enquiry into his complaint the matter was referred to the company itself.

"The company was allowed to judge their own case by an instrument of the state (SEBI) responsible for the regulation of stock market," Chopra said.
Sinha has also lodged a criminal complaint with the Delhi Police against DLF under Section 420 of IPC (cheating). However, DLF in a letter written to Singh refuted all the allegations.

Source : PTI