New Delhi . SEBI has directed Punjab National Bank Housing Finance to stop the proposed Rs 4,000 crore deal with Carlyle Group. SEBI has said that the notice issued on May 31 for convening the EGM is contrary to the rules of the Articles of Association of the company. Until and unless the company valuations the shares, it cannot be acted upon. The company’s EGM has been fixed for June 22.
Considering the next steps taking
On this, PNBHF has said that the company and its board of directors are confident that the company has complied with the rules laid down in SEBI and Articles of Association. These also include pricing regulation. Such an allotment is in the interest of the shareholders of the company and all concerned. The company is considering the next steps to be taken in this matter.
Source: Patrika : India's Leading Hindi News Portal by www.patrika.com.
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