The petition filed by Yadav a few days ago had alleged that thousands of crores of rupees were siphoned off by Sameer Gehlaut, Chairman of indiabulls housing finance, and directors of the company.
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.
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Mumbai: In a big relief to Indiabulls Housing Finance, the petitioner who had approached the Supreme Court alleging misappropriation of funds, has withdrawn the same on Thursday, the company said. The petition now withdrawn had alleged that the company had misappropriated Rs 98,000 crore of public money, a claim which was termed as "frivolous and bizarre" by the company, which had sought an.
The senior counsel said that he was not against the mechanism of PIL but this instant petition was "an unruly horse". He.
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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the petitioner, who had filed a plea in Supreme Court alleging misappropriation of Rs 98,000 crore by the company, has withdrawn the writ petition.
Indiabulls Housing Finance Ltd shares jumped nearly 11% in intraday trade on Thursday as soon as the news broke that Abhay Yadav, who had filed a petition against promoter Sameer Gehlaut and the company over alleged fund misappropriation, has withdrawn his case in the Supreme Court.
The writ petition filed in the Supreme Court against Indiabulls Housing Finance (IBH) and its group chairman Sameer Gehlaut by shareholder Abhay Yadav has been withdrawn, the company said on Thursday.
Indiabulls Housing Finance says writ petition filed in the Supreme Court against the company and its Chairman Sameer Gehlaut alleging misappropriation of funds has been withdrawn. New Delhi: The National Company. petition against Tata Sons on the ground of not meeting the minimum shareholding criteria, to decide the case in three months.
BENGALURU Indiabulls Housing Finance Ltd on Thursday said a writ petition alleging financial misdeeds against the mortgage lender had been withdrawn. the company. BUZZ-Indiabulls Housing falls.
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In a big relief to Indiabulls Housing Finance, the petitioner who had approached the Supreme Court alleging misappropriation of funds, has withdrawn the same on Thursday, the company said.
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