DLF filed an appeal before the Securities Appellate Tribunal on April 8 against the capital market watchdog's order, wherein the company was asked to pay a penalty of Rs 26 crore for indulging in "fraudulent and unfair trade practices".

The appeal came up for hearing on Wednesday before the Tribunal, along with appeals filed by DLF's top executives including Chairman K P Singh.

In addition to Rs 26 crore penalty on DLF, Sebi in its order dated February 26 had also ordered payment of a similar amount by seven persons -- Singh, his son and Vice Chairman Rajiv Singh, daughter Pia Singh, T C Goyal, Ramesh Sanka, G S Talwar and Kameshwar Swarup.

Giving an update about Wednesday's hearing, DLF cited that "SAT passed an order taking on record SEBI's undertaking that SEBI will not take any action to enforce the payment of penalty amount against the company during the pendency of the appeal and has posted the appeal on July 9, 2015 for hearing."

In the biggest-ever penalty in a single case, SEBI had imposed penalties on DLF, its top executives, their family members and various other related entities for entering into "sham transactions".

Along with penalties totalling Rs 34 slapped on 33 related entities, the fines total to Rs 86 crore in this case, which relates to disclosure requirements at the time of DLF's IPO more than seven years ago.

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