“PVR and two other cinema chains were in negotiations and now PVR is leading the race to close the deal. The deal is in the final stages,” said one of two persons familiar with the development.

CCI in its order has asked DLF Gurgaon Home Developers Private Ltd and its group companies to "cease and desist" from such unfair trade practices. It, however, did not impose any fresh penalty. A fine of Rs 630 crore has already been slapped on DLF for a similar violation in a separate case.

ICRA has reaffirmed the long-term rating of ICRA A assigned to Rs 4,000 crore non-convertible debenture programme, Rs 8,542 crore fund-based facilities and Rs 1,160 crore non-fund based facilities of DLF Ltd, the company said in a release adding that the long term rating has been assigned a negative outlook.

Agreeing to hear Sebi's plea, a bench of Justices J Chelameswar and R K Agrawal issued notice to DLF and its promoters. The market regulator had approached the court challenging a Securities Appellate Tribunal (SAT) order which had quashed its order to bar DLF and its promoters from the market.

The exchange, earlier this week, said that DLF would move out from Group A to Group B category from next month.

The appeal contests several grounds of the Securities Appellate Tribunal (SAT) order. "One of the observations in the SAT order was that clearance of the Sebi board was not taken before initiating investigation proceedings. On this, the appeal has said the investigation was directed by the Delhi high court in 2011," one of them said.

The outlook also factors in residual uncertainty over regulatory issues. However, rating agency has removed ratings on instruments from 'Watch with Negative Implications'. It reaffirmed the ratings at 'A'.

The company is offering discounts in 16 projects across Delhi, Bengaluru, Chennai, Kochi, Lucknow, Panchkula, Bhubaneswar, Kasauli and New Chandigarh as part of its DLF Spring Festival that will end on March 31.

With the ban applicable from October 13, 2014, and now reduced to six months, the company will be able to access the markets shortly, in about a month. Analysts at Axis Capital say over the next two years, DLF's balance sheet could be strengthened considerably through equity raising, monetisation of commercial assets (REIT or real estate investment trust listing), issuance of commercial mortgage-backed securities and stake sale in select projects.

Soon after the tribunal pronounced its order, the shares of DLF soared higher by about 8 per cent. The stock was trading 7.75 per cent up at Rs 160.5 at the BSE in early afternoon trade.