For Quick Alerts
For Daily Alerts

    DLF stock may tank following financial impropriety dealings with Vadra

    By Sunil
    DLF stock may react on Vadra links
    DLF: Quotes, News
    BSE 172.95BSE Quote10.2 (-5.90%)
    NSE 172.95NSE Quote10.15 (-5.87%)
    The DLF stock is likely to drop on Monday following allegations by Arvind Kejriwal that Robert Vadra, son-in-law of Congress President Sonia Gandhi, had in last four years amassed 31 properties, worth hundreds of crores of rupees even at the time of purchase, from DLF, at a dirt cheap rate.

    DLF also gave an unsecured and interest-free loan worth Rs 65 crore to companies owned by Robert Vadra. DLF, in its statement, said, "Our business relations with Robert Vadra are completely transparent. The relationship was conducted to the highest standard of ethics."

    Markets generally punish stocks where there is a perception of poor corporate governance and in the past it has for the DLF stock.

    Earlier, Veritas Investment Research, in its report titled 'A Crumbling Edifice', had raised doubts about the company's disclosed book equity and asset base.

    The report said, "DLF has undertaken questionable related-party transactions to boost the value of DAL (DLF Assets) prior to its acquisition by DLF, thereby subverting the interests of minority shareholders via a higher purchase price for DAL."

    Read more about: dlf stocks
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more