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

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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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.

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the petitioner, who had filed a plea in Supreme Court alleging misappropriation of Rs 98,000 crore by the company, has withdrawn the writ petition.A day earlier, the vacation bench of Justices Indira

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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.

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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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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.

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** 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.

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