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DLF, Unitech say no impending deals with Stanchart

DLF, Unitech say no impending deals with Stanchart
PTI
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First Published: Fri, Oct 10 2008. 04 03 PM IST
Updated: Fri, Oct 10 2008. 04 04 PM IST
New Delhi: Real estate developers DLF Ltd and Unitech denied media reports that a foreign bank has held back disbursement of loans sanctioned to them and termed the news as ‘false and baseless’.
In a communique to the Bombay Stock Exchange (BSE), DLF Ltd said, “There has been no impending transactions by DLF with Standard Chartered Bank or any other bank, and as a result, the question of refusing disbursement does not arise”.
A section of the media reported that Standard Chartered Bank, the second largest foreign bank in India after Citigroup, has held back disbursement of loans sanctioned to DLF and Unitech.
DLF and Unitech were trading lower on the BSE at 2.45 pm. While the Sensex scrip DLF was ruling at Rs297.75, down 3.58%, Unitech’s declined 8.57% at Rs86.40.
Unitech in a separate filing to BSE clarified that the company has not been sanctioned any loan by Standard Chartered Bank and, therefore, the contents of the said news that the disbursement of loans sanctioned to the company has been held back is completely false and baseless.
“The company completely denies the news reported and the same appears to be fabricated and the handiwork of certain vested interests,” Unitech said.
Echoing Unitech’s views, DLF said in a release that the story is totally motivated and mischievous, and issued at behest of some vested interests.
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First Published: Fri, Oct 10 2008. 04 03 PM IST