The Sebi order is vindication of Sinha's stand, but it has not brought him much relief as his money is still stuck.
Vadra launched Skylight Hospitality four months after the DLF shares got listed, amid complaints of inadequate disclosure from investor associations and former business partner Kimsuk Krishna Sinha.
A Sebi spokesperson did not respond to an email seeking comments.
KK Sinha is a director in 2 firms - Gobinda Tea Trading and Kriti Infrastructures.
After hearing the petition, filed by the country's largest real estate developer last week, the Tribunal adjourned the matter till October 30 next week, as it sought a response from capital markets regulator Securities and Exchange Board of India on DLF's plea for an interim relief.
In a 43-page order, SEBI said it will bar DLF and its chairman KP Singh along with five other company executives from accessing India's capital markets for three years.
DLF wrote to Sebi, asking if the firm's ban on securities transactions extends to mutual fund investments.
It was an individual complainant, seeking action against Rs 34 crore (Rs 340 million) he was allegedly duped, and "sham transactions" involving three 'housewives' that has led to regulator Sebi coming hard on the country's biggest real estate developer DLF and its top executives.
DLFknowingly suppressed material facts: Sebi
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