The Tribunal in an order passed on 16 November, allowed the housing finance company to withdraw the petition, PNB Housing Finance informed the exchanges.
PNB Housing Finance said in a regulatory filing on Wednesday that the company will seek shareholders' nod in its AGM on September 3, 2021.
The two-member SAT bench of Justice Tarun Agarwala and Justice M T Joshi has delivered a split verdict on the matter.
The regulator has asked PNB Housing not to go ahead with the deal until it undertook the valuation of its shares by an independent agency.
PNB Housing Finance said it received a letter from PNB on July 4 and subsequent to that the board of the company met on July 5 and 6, 2021.
Post the capital infusion, Carlyle Group will eventually become a promoter and PNB’s shareholding will get diluted to little over 20 per cent and thereby become a smaller partner.
When contacted, the company said it will inform about the outcome of the meeting through stock exchange filings.
The watchdog said the resolution regarding the deal, which was to be put for shareholders' vote on June 22, was "ultra-vires" of the company's Articles of Association
Meanwhile, both Reserve Bank of India (RBI) as well as Sebi will look into various regulatory issues related to the proposed investment in PNB Housing by Carlyle and others.
While PNB Housing said it was not giving away control to Carlyle, SES rubbished the claim saying that the fact that PNB has not cededed control is technically incorrect.
Carlyle, through a separate vehicle, Quality Investments Holdings currently owns 32.2 per cent in the company.
PNB Housing Finance's board has approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to The Carlyle Group Inc, the company said in a regulatory filing.