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Indiabulls Group stocks jump up to 15% on reports of no irregularity in deals

Ministry of Corporate Affairs probe found no major irregularities in Indiabulls' deals.

ETMarkets.com|
Last Updated: Feb 20, 2020, 12.48 PM IST
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​Indiabulls
Indiabulls Housing Finance jumped 14.49 per cent to Rs 349.55 while Indiabulls Integrated Services gained 4.96 per cent to Rs 107.85.
Shares of Indiabulls Group rallied in Thursday's session after reports suggested that the government found no irregularity in the deals entered by Indiabulls Group.

Bloomberg reported that the Ministry of Corporate Affairs (MCA) probe found no major irregularities in Indiabulls' deals.

Indiabulls Housing Finance jumped 14.49 per cent to Rs 349.55 while Indiabulls Integrated Services gained 4.96 per cent to Rs 107.85. Another group firm Indiabulls Real Estate added 4.01 per cent to Rs 90.85 and Indiabulls Ventures gained 7.37 per cent to Rs 215.70.

Indiabulls Housing Finance, Indiabulls Ventures, Indiabulls Real Estate are being probed for potential wrongdoing by the Registrar of Companies, which comes under MCA.

The probe started in July 2018.

Earlier, in a court filing, MCA said the loans given by Indiabulls Housing Finance to DLF, Anil Dhirubhai Ambani Group (ADAG), and Amricorp have been repaid in full by the respective companies.

It also said that the loan accounts of two other companies, namely Vatika group and the Chordia group, has been reported as “standard account”.

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