D B Realty Stated No Involvement in 2G Spectrum Case: Share Price in Focus

On March 26, 2024, Valor Estate Ltd (Formerly DB Realty Ltd) issued a formal clarification to address concerns arising from a recent High Court order related to the 2G spectrum allocation case.

Recent High Court Order and Media Speculation

A recent pronouncement by the Delhi High Court regarding the CBI vs A. Raja & Others case (pertaining to the 2G spectrum allocation) has triggered inquiries about D B Realty. Media reports and stakeholder concerns suggest a potential link between the company and the case.

D B Realty’s Unequivocal Stance

Valor Estate Ltd has emphatically denied any involvement in the 2G spectrum case. Their statement clearly states that the company was never charged as an accused.

Past Exoneration by CBI Special Court

The clarification goes a step further by highlighting a crucial detail. The CBI Special Court, in its December 21, 2017, judgment, completely exonerated the company’s promoters from all allegations related to the 2G spectrum allocation. The company’s proactive approach in clarifying its position is commendable. It demonstrates transparency and protects the company’s reputation from unfounded speculation.

Impact on Investors and Stakeholders

This clarification can be reassuring for investors and stakeholders who might have been concerned by the recent news. It reinforces the company’s commitment to ethical business practices.

Focus on the Future

The company emphasises its unwavering faith in the judicial process. They express confidence that the legal system will uphold their innocence, as demonstrated by the CBI Special Court’s earlier judgment. D B Realty was never accused in the 2G spectrum allocation case. The company’s promoters were exonerated by the CBI Special Court in 2017. The company maintains its faith in the judiciary and expects a fair outcome.

About Valor Estate Ltd

Incorporated in 2007, Valor Estate Ltd is mainly involved in real estate construction, development and other related activities. Most of the company’s projects are based in and around Mumbai and are under various stages of planning and construction. With effect from March 08, 2024, the company’s name was changed to Valor Estate Ltd from DB Realty Ltd after approval from the Ministry of Corporate Affairs.

On March 26, 2024, the Valor Estate share price of the company opened at ₹199.30 and touched the day low of ₹190.60 at 11:45 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.