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HomeMarket NewsSupreme Court orders CBI investigation into DLF’s Gurgaon project; shares fall nearly 4%
The Supreme Court of India has ordered a CBI probe into alleged irregularities in the Primus DLF Garden City project after homebuyers' petitions about delays and lack of utilities.
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Shares of DLF fell 3.77% to ₹568.15, down ₹22.25 from the previous close of ₹590.40, after the Supreme Court of India directed a probe by the Central Bureau of Investigation into alleged irregularities related to the Primus DLF Garden City project.
The stock opened lower at ₹575.05 and touched an intraday high of ₹578.45 before slipping to a low of ₹563.20.
The top court was hearing pleas by homebuyers who flagged missed deadlines for completion of the project and the lack of permanent water and electricity connections.
The court observed that the issues raised may be the “tip of the iceberg” and directed the CBI to constitute an appropriate team to conduct a detailed probe. Further developments are awaited.
