MUMBAI: Reacting to reports of ED raids on Indiabulls Housing Finance premises across Mumbai and Delhi, the company informed the stock exchanges late on Monday that “the Enforcement Directorate has sought some information regarding certain clients.”
“....the matter originates from ECIR No. 07/HUI/2021 filed by ED on the basis of an FIR lodged in village Wada, Palghar, Maharashtra in April, 2021,” the company said. “The Company,” it added, “and its officials have provided the data of clients to the Enforcement Directorate.”
ED officials were not immediately available for comment. The update to the exchanges further reads, “The company had immediately approached the High Court seeking quashing of the false & malicious FIR filed against the company in village Palghar last year.”
Indiabulls further informed the exchanges, “The ECIR registered by ED stems out of an FIR filed by one Ashutosh Kamble who is part of the long-running extortion and blackmail racket against the company. The FIR is a copy-and-paste of earlier several patently false, vexatious and malicious complaints that the blackmailers have been circulating for last 3 years now, a similar allegations petition under name of Abhay Yadav was dismissed by the Supreme Court in 2019.”
Reacting to reports, the Indiabulls Housing stock plunged 13.3% to hit an intraday low of `160, before recovering to close at `166.75, down 9.67% on the BSE.