Indiabulls Housing falls after writ filed against chairman; company says allegation ‘bizarre’

Shares of Indiabulls Housing Finance tanked 8% on Tuesday following a writ petition filed in the Supreme Court against its promoter. 90,000 crore. The allegation of siphoning of 98,000 crore is.

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Indiabulls Housing Finance Ltd (IHFL), on June 12, 2019, moved the Supreme Court, seeking urgent listing of a plea filed against it, in which it has been alleged that the company misappropriated Rs 98,000 crores of public money.

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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.

** 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.

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Housing Finance Ltd on Thursday said a writ petition alleging financial misdeeds against the mortgage lender has been withdrawn, sending shares nearly 8 percent higher.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 total loans on the books of Indiabulls Housing are approx Rs 90,000 crores. The allegation of siphoning-off Rs 98,000 crores is bizarre," the company said in a regulatory filing.

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.

Read more about Petitioner apologises, withdraws complaint against Indiabulls Housing finance on Business Standard. Indiabulls Housing Finance said on Thursday the petitioner, who had filed a plea in Supreme Court alleging misappropriation of Rs 98,000 crore by the company, has withdrawn the writ petition.A day earlier, the vacation bench of Justices Indira

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