Halted by SAT’s split verdict on going ahead with the Rs 4,000 crore deal with the Carlyle group, Punjab Housing Finance is planning to raise Rs 35,000 crore debt.

The company said it will seek shareholders' approval for further fund raising by way of debt issue.

"Shareholders' approval is being sought in the 33rd AGM for further fund raising by way of debt issue and the shareholders are being requested to authorise the board of directors to offer, from time to time, the subscription of redeemable, secured/unsecured non-convertible debentures aggregating to Rs 35,000 crore in one or more tranches," Punjab Housing Finance said in a regulatory filing.

On Monday, Securities Appellate Tribunal (SAT) gave a split verdict in the company's appeal to the court in the matter related to Rs 4,000 crore equity fund infusion led by its existing investor Carlyle group, and others through preferential allotment of shares and warrants.

PNB Housing Finance had moved the SAT against the Securities and Exchange Board of India’s (Sebi) directive which restrained the mortgage lender from going ahead with the preferential allotment of shares to the Carlyle Group unless the valuation was done by an independent valuer.

Both the parties can now move the Supreme Court against the tribunal’s order.