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against Indiabulls Housing Finance (IBH) and its group chairman Sameer Gehlaut by shareholder Abhay Yadav has been withdrawn, the company said on Thursday. Advertising According to a statement by Indiabulls Housing, in the affidavit withdrawing the.

The statement comes after a plea was filed in the Supreme Court on Monday seeking legal action against Indiabulls Housing Finance, Gehlaut and the directors for the alleged misappropriation of public money.

NEW DELHI: Shares of Indiabulls Housing Finance soared 11 per cent in Thursday’s trade in a knee-jerk reaction to the announcement 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Yadav, who had filed a petition against promoter Sameer Gehlaut and the company over alleged fund misappropriation, has withdrawn his case in the Supreme Court.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 alleging chairman and directors of Indiabulls Housing Finance (IHFL) of misappropriating Rs 98,000 crore of public money has been withdrawn. In a regulatory filing, the company.

Indiabulls Housing Finance Ltd. today said that Abhay Yadav, the petitioner who alleged that the company and its Chairman Sameer Gehlaut misappropriated. him must have been misused to file false.

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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in the Supreme Court against the company and its chairman sameer gehlaut alleging misappropriation of funds has been withdrawn.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: Indiabulls Housing Finance Ltd. said on Thursday 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. IANS has been repeatedly pointing out that the petitioners filed the plea with malafide intent.

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.. Indiabulls Housing Finance Says Petition Against Company, Chairman Gehlaut Withdrawn.

** Shares of mortgage lender Indiabulls Housing Finance Ltd fall as much as 8.58% to 671.25 rupees after a writ was filed on Monday in India’s Supreme Court against Chairman Sameer Gehlaut for. Indiabulls Housing Finance Ltd on Thursday said a writ petition alleging financial misdeeds against the mortgage lender has been withdrawn, sending.

In a relief to Indiabulls Housing Finance, the petitioner has withdrawn the case alleging misappropriation of funds from the Supreme Court.. file false complaints and petitions against.