said on Wednesday Securities Appellate Tribunal (SAT) has allowed him to withdraw his appeal in the matter relating to Rs. Carlyle The deal, which is now over. In respect of the application filed by the company before the Securities Appellate Tribunal, seeking leave to withdraw the appeal, sat In its hearing on November 16, 2021, PNB Housing Finance allowed the company to withdraw its appeal, PNB Housing Finance said in a regulatory filing.

Last month, the company said it has canceled equity capital investments led by US-based Carlyle Group.

Soon after the announcement of the preference issue of shares in May this year, controversy erupted regarding valuation of shares to be offered to investors and the capital markets regulator. Self intervened and put the deal on hold until the shares were revalued.

In turn, PNB Housing Finance approached SAT which gave a divided verdict in August. SEBI has contacted Supreme courtHowever, PNB Housing Finance decided to scrap the deal instead of getting into a legal battle.

PNB Housing Finance said in October that the board has decided not to go ahead with the preferential issue and that the share membership agreements executed with the proposed allottees have been terminated as per their respective terms.

The company’s MD and CEO had said earlier this month that PNB Housing Finance has kept its capital raising plan open and will continue to explore the market.

Shares of the company closed at Rs 462.80, down 0.83 per cent from the previous close on BSE.