Indiabulls Housing Finance Says Petition Against Company, Chairman Gehlaut Withdrawn

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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.

The statement comes after a plea was filed in the Supreme Court on Monday seeking legal action against Indiabulls Housing Finance, Gehlaut and the directors for the alleged misappropriation of public.

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Housing Finance Ltd on Thursday said a writ petition alleging financial misdeeds against the mortgage lender has been withdrawn, sending shares nearly 8 percent higher.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.

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In a major relief to Indiabulls Housing Finance, the petitioner who moved the supreme court accusing misappropriating public funds by its management, withdrew the plea Thursday, the company said. The.

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the petitioner, who had filed a plea in Supreme Court alleging misappropriation of Rs 98,000 crore by the company, has withdrawn the writ petition.A day earlier, the vacation bench of Justices Indira

The news of the withdrawal of the petition sent the Indiabulls Housing Finance scrips soaring up to 9 per cent after the shares tanked by 8 per cent on Tuesday.. levelled against the company.

The writ petition alleging chairman and directors of Indiabulls Housing Finance (IHFL) of misappropriating Rs 98,000 crore of public money has been withdrawn. In a regulatory filing, the company.

The statement comes after a plea was filed in the Supreme Court on Monday seeking legal action against Indiabulls Housing Finance, Gehlaut and the directors for the alleged misappropriation of public.

Indiabulls Housing Finance Ltd. today said 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 Indiabulls Housing Finance Says Petition Against Company, Chairman Gehlaut Withdrawn.

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