The Securities and Exchange Board of India (SEBI) has withheld clearance of the share sale document of Himachal Futuristic Communications Limited Infotel (HFCL Infotel) until the court proceedings pending against HFCL's promoter and associates (in a separate matter) are cleared. The draft document proposed the sale of 8 million shares, representing 61.98 per cent voting rights in HFCL, to US private equity firm New Enterprise Associates.