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Indiabulls shares jump 14% on Kislay Panday's public apology
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SME Times News Bureau | 13 Aug, 2019
Indiabulls Housing Finance stocks surged 14 per cent on the NSE on
Tuesday after the law firm Managium Juris tendered a public apology for
an earlier false suit alleging that Indiabulls was involved in fraud.
The
company's stock jumped 14 per cent to touch an intra-day high of Rs
575.95 a share after the public apology by lawyer Kislay Panday of
Managium Juris.
In a statement, Managium Juris said: "We came
across a public disclosure made by Indiabulls Housing Finance Ltd
regarding their plans to merge with Lakshmi Vilas Bank. Sensing this as a
delicate and critical phase for the company and, therefore, an
opportunity for the clients to exert pressure and with a view to
sensationalize the matter, certain scathing allegations were made by
them in the petition involving huge numbers against the company and its
officials."
The law firm had earlier alleged that Indiabulls was
involved in misappropriation of public money to the tune of Rs 98,000
crore.
The firm said that "all false and factually incorrect
complains have now been withdrawn that we drafted through my office and
were sent through my office...with the sole purpose of sensationalising
allegations against Indiabulls and causing harassment to the company."
"We
undertake not to indulge in such activities ever in future and assure
all concerned that neither me or my firm shall, whether directly or
indirectly, file any kind of litigations or complaints against
Indiabulls Group or its companies," the statement added.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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