HC refuses stay on offering

Dec 12 2012, 01:42 IST
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SummaryThe Delhi High Court on Tuesday declined to grant a stay on the IPO of Bharti Infratel on a PIL alleging that “the very foundation of this IPO is fraudulent”.

The Delhi High Court on Tuesday declined to grant a stay on the IPO of Bharti Infratel on a PIL alleging that “the very foundation of this IPO is fraudulent”.

The court, however, asked Sebi to produce the records relating to its approval to the company for launching the IPO to see whether the company had complied with Sebi regulations. “We are not issuing a notice, we are not saying anything and not passing any order. We will see the records to satisfy ourselves," the bench of Chief Justice D Murugesan and Justice Rajiv Sahai Endlaw said.

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