Examining alleged violations related to Indiabulls: MCA to court

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Published: November 29, 2019 1:57:44 AM

The affidavit was filed in the course of hearing of a writ petition filed by NGO Citizens Whistle Blower Forum.

The MCA said in the affidavit, according to a notification to the stock exchanges by IBHFL.The MCA said in the affidavit, according to a notification to the stock exchanges by IBHFL.

While loans given by Indiabulls Housing Finance (IBHFL) to five groups have not turned bad, the ministry of corporate affairs (MCA) is examining violations pointed out in inspection reports with regard to Indiabulls companies, the ministry said in an affidavit filed with the Delhi High Court on Thursday. The affidavit was filed in the course of hearing of a writ petition filed by NGO Citizens Whistle Blower Forum.

“As far as the loans given by IBHFL to five companies, viz, DLF, Amricorp, Vatika, ADAG (Anil Dhirubhai Ambani Group) and Chordia which are the subject matter of the instant writ petition, the report states that loans given to Amricorp, ADAG and DLF have been repaid and loans given to other two entities viz Vatika and Chordia reported to be ‘standard accounts’,” the MCA said in the affidavit, according to a notification to the stock exchanges by IBHFL.

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