Indian property developer DLF banned from raising fresh funds, shares crash

Shares in Indian property developer DLF crashed 22% on Tuesday after the country’s market regulator, Sebi, banned the company and its chairman, Kushal Pal Singh, from tapping capital markets again.

When it floated on the stock market in 2007 the company failed to disclose information on pending lawsuits and the financial position of its subsidiaries.