** Shares of mortgage lender Indiabulls Housing Finance Ltd fall as much as 8.58% to 671.25 rupees after a writ was filed on Monday in India’s Supreme Court against Chairman Sameer Gehlaut for.
Read more about SC raps petitioner for defective plea against Indiabulls on Business Standard. The Supreme Court on Wednesday pulled up for filing a defective application a petitioner, Abhay Yadav, who has alleged that Indiabulls Housing Finance Ltd (IHFL) misappropriated Rs 98,000 crore of public money.
Shares of Indiabulls Housing Finance Ltd (IBHFL) dropped 8 per cent Tuesday following allegations of siphoning off Rs 98,000 crore of public money.The scrip plunged 7.97 per cent to close at Rs 674.65
Mumbai, June 11 (IANS) Refuting charges of misappropriation of around Rs 98,000 crore by its Chairman Sameer Gehlaut and other directors, Indiabulls Housing Finance late on Monday evening said that the allegation is "bizzare" and is meant to malign the reputation of the company. The statement comes after a plea was filed in the Supreme.
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Shares of mortgage lender Indiabulls Housing. Rs 671.25 after a writ was filed on Monday in the Supreme Court against Chairman Sameer Gehlaut for allegedly siphoning Rs 98,000 crore ($14.11 billion.
In a statement earlier, IHFL has described the allegations against its Chairman Sameer Gehlaut and other directors as "bizzare" and designed to malign the reputation of the company. The statement came after a plea was filed in the apex court on Monday seeking legal action against Indiabulls, Gehlaut and the other directors for alleged.
A plea was filed in the supreme court monday seeking legal action against Indiabulls Housing Finance Limited (IHFL), its Chairman and directors for alleged misappropriation of Rs 98,000 crore of.
Indiabulls Housing Finance Ltd on Thursday said a writ petition alleging financial misdeeds against the mortgage lender has been withdrawn, sending shares nearly 8 percent higher. A criminal writ petition filed on Monday in Supreme Court alleged that about Rs 98,000 crore had been siphoned out of the company by senior officials using a web of.
The news of the withdrawal of the petition sent the Indiabulls Housing Finance scrips soaring up to 9 per cent after the shares tanked by 8 per cent on Tuesday. In a big relief to Indiabulls.
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