Top
Top Stories

Indiabulls Housing Moves SC For Listing Of Plea Against It Alleging Misappropriation Of Funds

PTI
12 Jun 2019 9:16 AM GMT
Indiabulls Housing Moves SC For Listing Of Plea Against It Alleging Misappropriation Of Funds
Your free access to Live Law has expired
To read the article, get a premium account.
    Your Subscription Supports Independent Journalism
Subscription starts from
599+GST
(For 6 Months)
Premium account gives you:
  • Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.
  • Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.
Already a subscriber?

The Indiabulls Housing Finance Ltd (IHFL) Wednesday moved the Supreme Court seeking an 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.

Next Story