In a big relief to indiabulls housing finance, the petitioner who had approached the Supreme Court alleging misappropriation of funds, has withdrawn the same on Thursday, the company said.
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Indiabulls Housing Finance shares soar after writ petition alleging financial misdeeds against company withdrawn Business Press Trust of India Jun 13, 2019 15:43:52 IST Mumbai: In a big relief to Indiabulls Housing Finance, the petitioner who had approached the Supreme Court alleging misappropriation of funds, has withdrawn the same on Thursday.
The company Indiabulls Housing Finance Limited, its chairman sameer gehlaut and others had also received huge kickback amount from various borrowers, the writ petition had alleged.
Read more about indiabulls petitioners withdraw from SC amid hints of criminal conspiracy on Business Standard. Indiabulls Housing Finance Ltd. said on THursday that Abhay Yadav, the petitioner who alleged that the company and its Chairman Sameer gehlaut misappropriated funds, withdrew his writ petition from the Supreme Court.
Indiabulls Housing Finance says writ petition filed in the Supreme Court against the company and its Chairman Sameer Gehlaut alleging misappropriation of funds has been withdrawn.
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NEW DELHI: Indiabulls Housing Finance Ltd. said on Thursday that Abhay Yadav, the petitioner who alleged that the company and its Chairman Sameer Gehlaut misappropriated funds, withdrew his writ petition from the Supreme Court. IANS has been repeatedly pointing out that the petitioners filed the plea with malafide intent.
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Indiabulls Housing Finance, a housing finance company, provides home loans and loans against properties. It offers loans against residential and commercial properties to small and mid-sized businesses, partnership firms, self-employed professionals, and private or closely held companies, as well as home loans for non-residential Indians and persons of Indian origin.
Shares of Indiabulls Housing Finance surged 11 per cent after Abhay Yadav who had filed a petition against the non-banking finance company, its chairman Sameer Gehlaut and other directors for the.
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