For Quick Alerts
For Daily Alerts

Indiabulls Housing Finance Crashes 9% On Allegations Of Rs. 1 Lakh Crore Fraud


The housing finance major in intra-day trade today has cracked by 9% to hit an intra-day low of Rs. 577.50 on the BSE.

As per a leading business daily report, BJP leader Subramanian Swamy has sent a letter to PM Modi, alleging the company of a fraud of Rs. 1 lakh crore from National Housing BanIn a notice to the stock exchanges, IBHFL sad: We wish to highlight the following facts regarding the same: Loans outstanding as on date from NHB to Indiabulls Housing is zero.


"Indiabulls Housing, in its history, has never taken any loan or refinancing facility from NHB. The total loan book of Indiabulls Housing is approximatey. ₹ 87,000 crores."

Also after the liquidity crisis hit the NBFC sector, Indibulls Housing Finance has sought merger with Lakshmi Vilas Bank.

In the letter, dated June 28, 2019, written to the Prime Minister, Swamy alleged: "I wish to inform you that IBHFL and its heading now for a financial collapse and bankruptcy...."

. On the same, the company denies any such wrongdoing.

Indiabulls Housing Finance Crashes 9% On Allegations Of Fraud

The stock of Indiabulls Housing Finance was last quoting at Rs. 582.45, down 6.68%on the BSE.

Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
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