New Delhi: Shares of Indiabulls Housing Finance continue to shrink on Wednesday following allegations of siphoning off ₹98,000 crore of public money. The company has now moved the Supreme Court alleging that the plea against it alleging misappropriation of ₹98,000 crore public money is "frivolous". The share of the company on Wednesday was trading near four-month low and chart by Reuters suggested more downside in the coming days. The company has made a wave pattern on the chart made by Reuters which suggests a three wave downtrend. The allegations of siphoning off ₹98,000 crore are bizarre," IBHFL had said in a statement.

Source: Mint June 12, 2019 05:45 UTC