IHFL moves SC for listing of plea against it alleging misappropriation of funds
Team Udayavani, Jun 12, 2019, 12:00 PM IST
New Delhi: Indiabulls Housing Finance Ltd (IHFL) on Wednesday moved the Supreme Court seeking an urgent listing of a plea filed against it in which it has been alleged that the company misappropriated Rs 98,000 crore of public money.
Senior advocate A M Singhvi, appearing for the company, mentioned the matter for urgent listing before a vacation bench comprising justices Indira Banerjee and Ajay Rastogi.
He said that due to the media reports regarding the filing of the petition against the company, IHFL, has incurred a loss of around Rs 7,000 crore of its market share.
The bench said it would take a decision during the course of the day about listing of the plea.
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