 "Indiabulls Park")
Shares of Indiabulls group companies were under pressure on Monday, falling by up to 10 per cent intra-day on the BSE, after Rajya Sabha member Subramanian Swamy sent a letter to Prime Minister Narendra Modi, accusing the group of laundering more than Rs 1 lakh crore. The group, however, rejected the charges.
The letter alleged that Indiabulls group has created more than 100 shell firms and took loans from National Housing Bank (NHB). It then re-alloted or siphoned it off to many real estate firms in Maharashtra, Delhi, Gurugram, Bengaluru and Chennai in the range of Rs 30 crore to Rs 1,000 crore.
Swamy urged PM Modi to institute a special investigation team of the Central Bureau of
The letter alleged that Indiabulls group has created more than 100 shell firms and took loans from National Housing Bank (NHB). It then re-alloted or siphoned it off to many real estate firms in Maharashtra, Delhi, Gurugram, Bengaluru and Chennai in the range of Rs 30 crore to Rs 1,000 crore.
Swamy urged PM Modi to institute a special investigation team of the Central Bureau of
