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IndiaBulls Housing Finance share price slumped in trade today after its chairman and directors were accused of allegedly misappropriating Rs 98,000 crore of public money. However, the firm has.
Indiabulls Housing falls after writ filed against chairman. Shares of mortgage lender indiabulls housing Finance fell as much as 8.58 per cent to 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).
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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.
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Mumbai: Refuting charges of misappropriation of around Rs 98,000 crore by its Chairman Sameer Gehlaut and other directors, Indiabulls housing finance late 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 Court on Monday seeking [.]
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.
"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.
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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.