Business Companies 12 Jun 2019 Indiabulls moves SC ...

Indiabulls moves SC for listing of plea against it alleging misappropriation of funds

PTI
Published Jun 12, 2019, 11:46 am IST
Updated Jun 12, 2019, 11:46 am IST
Indiabulls Housing Finance Ltd has incurred loss of around Rs 7,000 crore of its market share.
The bench said it would take a decision during the course of the day about listing of the plea.
 The bench said it would take a decision during the course of the day about listing of the plea.

New Delhi: The Indiabulls Housing Finance Ltd (IHFL) on Wednesday 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 crore of public money.

Senior advocate A M Singhvi, appearing for the company, mentioned the matter for urgent listing before a vacation bench comprising justices Indira Banerjee and Ajay Rastogi. Singhvi told the bench that frivolous allegations have been levelled against the company in the petition and the plea was leaked to the media.

 

He said that due to the media reports regarding filing of the petition against the company, IHFL, has incurred loss of around Rs 7,000 crore of its market share. The bench said it would take a decision during the course of the day about listing of the plea.

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Location: India, Delhi, New Delhi




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