New Delhi: Shares of Indiabulls Housing Finance Ltd (IBHFL) dropped 8% Tuesday following allegations of siphoning off ₹98,000 crore of public money. On the NSE, shares of the company tanked 8% to close at ₹674.15. As many as 25.70 lakh shares of the company were traded on the BSE, while over three crore shares changed hands on the NSE. A plea was filed in the Supreme Court on Monday seeking legal action against IBHFL, its chairman and directors for alleged misappropriation of ₹98,000 crore of public money. The allegations of siphoning off ₹98,000 crore is bizarre," IBHFL said in a statement.

Source: Mint June 11, 2019 11:37 UTC