Carlyle may not play ball in contentious deal for India's PNB Housing

Carlyle may not play ball in contentious deal for India's PNB Housing

FILE PHOTO: The logo of the Carlyle Group is displayed at the company's office in Tokyo, Japan October 17, 2018. REUTERS/Issei Kato

Private equity fund Carlyle Group, which is trying to take control of PNB Housing Finance Ltd, may not be able to raise its offer for the home financier if its challenge of the markets regulator’s order to stall the transaction is dismissed by an appeals court.