Indiabulls Housing Finance Says Petition Against Company, Chairman Gehlaut Withdrawn

Plea in Supreme Court for action against Indiabulls Housing for misappropriating 98K cr public money 10 Jun, 2019, 08.09PM IST. The petition alleged that money worth thousands of crores were siphoned off by Sameer Gehlaut, the chairman of the firm, and the directors of Indiabulls for their personal use.

New Delhi: Indiabulls Housing Finance Limited has approached the Supreme Court for an urgent hearing on a petition filed against it, its Chairman and directors for alleged misappropriation of Rs 98,000 crore of public money.

 · Money Laundering indiabulls petitioners withdraw from SC amid hints of criminal conspiracy. A criminal writ petition filed on Monday in the Supreme Court alleged that about Rs 98,000 crore had been siphoned out of the company by senior officials using a web of shell companies.

Cox & Kings clarified that Bombay High Court has allowed the company to withdraw a petition filed by the company itself.

 · Refuting charges of misappropriation of around Rs 98,000 crore by its Chairman Sameer Gehlaut and other directors, Indiabulls Housing Finance late on.

Global investors continued to withdraw their money from India-focused equity. In an interview with CNBC-TV18, the company’s chairman Dilip Piramal says, he sees 40-50% growth in profit before tax.

New Delhi, June 12 (IANS) 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. Earlier on Wednesday, IHFL senior counsel A.M. Singhvi urged the vacation bench comprising Justices Indira Banerjee and Ajay Rastogi [.]

MUMBAI: Refuting charges of misappropriation of around Rs 98,000 crore by its Chairman Sameer Gehlaut and other directors, Indiabulls Housing Finance (IBHF) late on.

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Global investors continued to withdraw their money from India-focused equity. In an interview with CNBC-TV18, the company’s chairman Dilip Piramal says, he sees 40-50% growth in profit before tax.

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