DLF Accused Of Forging Documents

The much publicized DLF IPO has run into definite trouble with the postal department accusing the company of forging the proof of dispatch of offer letters to its shareholders.

According to industry observers, it is unlikely that SEBI will give a green signal to the offer until the issue of debenture offer letters not reaching minority shareholders is resolved.

The Economic Offence Wing (EOW) of the Delhi Police has started investigating the matter.

About 1,000 shareholders have complained that the debenture offer letters didn't reach them. On its part, DLF says the letters were sent under the certificate of posting. But the Department of Posts, filing a case of forgery against DLF, said the company had forged the proof of dispatch.

DLF has refused to comment on the matter. But it is clear that until DLF clears its name in the case, it may have to put its expansion plans in cold storage, or explore other options for funding.