STOCK MARKET BSE NSE

Indiabulls Housing Finance denies Subramanian Swamy's allegations as stock tanks

In his letter on Sunday being circulated on social media, Swamy alleged embezzlement of more than Rs 1 lakh crore from NHB which regulates mortgage lenders. The company denied the allegations.

Published: 29th July 2019 03:17 PM  |   Last Updated: 29th July 2019 04:51 PM   |  A+A-

By PTI

MUMBAI: Shares of Indiabulls Housing Finance tanked about 7.6 per cent to a one-month low at the National Stock Exchange on Monday and levelled among top losers in the index after BJP leader Subramanian Swamy accused the company of embezzling funds from the National Housing Bank (NHB).

At 12:30 pm, Indiabulls Housing Finance Ltd was trading at Rs 576.60, down by 7.65 per cent from its previous closing.

In his letter on Sunday being circulated on social media, Swamy alleged embezzlement of more than Rs 1 lakh crore from NHB which regulates mortgage lenders. The company denied the allegations.

ALSO READ: How BJP leader Subramanian Swamy's letter sent Indiabulls Housing Finance shares tumbling

"The 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 about Rs 87,000 crore," the company said in regulatory filings at stock exchanges.

Indiabulls Housing Finance has a balance sheet size of Rs 128,750 crore and provides home loans in the affordable housing segment.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp