DLF Stocks Stable After ED Search Linked to Supertech Money Laundering Probe

28 Nov 2023 , 02:42 PM

DLF shares open flat on November 28 after Enforcement Directorate’s (ED) search at Gurugram premises last week. AT the time of writing DLF was trading at Rs 627.15 which is a 0.35% dip than the previous close. On November 25, DLF stock closes at Rs 630.75, nearly 1% lower than the opening price.

In regulatory filing, DLF confirms ED search on November 25 related to money laundering investigation against Supertech and its promoters. DLF cooperates, provides all relevant documents; emphasizes transactions conducted in the ordinary course of business.

ED recovers documents during the search, linking the action to the Supertech investigation. RK Arora, Supertech’s chairperson, arrested in June 2023 for alleged cheating of around 670 home buyers for Rs 164 crore.

ED alleges RK Arora diverted substantial funds from investors and homebuyers to various shell companies within the Supertech group.

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