Shares of Indiabulls group dumped as Veritas finds holes in books

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Shares of Indiabulls group companies came under the hammer today, on reports that the Canada-based research firm Veritas had accused the promoters of dubious accounting practices and poor corporate governance.

In a report, Veritas said all norms were violated to enrich the controlling shareholders of the group.
Indiabulls Power was down 7%, while Indiabulls Financial and Indiabulls Real Estate were down 3% each on the National Stock Exchange.

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Read more about: indiabulls
Story first published: Wednesday, August 8, 2012, 11:57 [IST]
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