Lodha Developers cannot do an IPO because of past violations

SEBI, the chief Regulator for all share markets in India, has kept Realty biggie Lodha Developers’ maiden push towards an IPO in abeyance “for examination of past violations,” latest update with the markets watchdog showed. The IPO proposal is for Rs. 55,000 Crores. Why has that happened? Okay, before that let me introduce some of you who do not yet know Lodha Developers very well. Privately-held Lodha Group is developing around 40 million sq ft area and has 31 ongoing projects in London, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad.…