Mumbai: Securities Appellate Tribunal (SAT) has delivered a vonation of divisions for the allocation of RS 40,000 Housing PNB shares ($ 5.4 billion) to a group of investors led by the Carlyle Group, the assessment seen by Reuters shows.
In the temporary order, the SAT is limited to PNB housing financing from revealing the sound results of shareholders on the agreement.
“Given the differences of opinion between board members, we direct the temporary command to continue up to further orders,” Read order 56 pages.
The PNB-Carlyle agreement has been challenged by the Effects and Western Exchange India (SEBI), which has asked the company to spaced it to crashing independent assessment.
PNB Housing Finance challenged the command of SBI in Sat, questioning his authority to make such intervention.
Sebi questioned the agreement after an institutional investment advisory company said it was unfair for minority shareholders.
Sat provides a separate verdict on the PNB-Carlyle agreement
