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Government to submit Indiabulls probe report this month. (Bloomberg)
Government to submit Indiabulls probe report this month. (Bloomberg)

Government to submit Indiabulls probe report this month

  • Indiabulls Housing Finance, Indiabulls Ventures, Indiabulls Real Estate are being probed for potential wrongdoing
  • The ministry has also imposed travel restrictions on the founders of Housing Development and Infrastructure Ltd

NEW DELHI : Ministry of Corporate Affairs has been investigating three Indiabulls Group companies since about a year and will submit its final report by the end of October, according to people familiar with the matter.

Indiabulls Housing Finance, Indiabulls Ventures, Indiabulls Real Estate are being probed for potential wrongdoing by the Registrar of Companies, which is part of the ministry, the people said, asking not to be identified as the details are private

Indiabulls has disclosed in court documents that the Ministry is inspecting its books, a representative for the company said. Separately, the ministry has also imposed travel restrictions on the founders of Housing Development and Infrastructure Ltd., and may start inspecting the developer’s books, the people said

HDIL isn’t aware of any action against the company and its founders, HDIL said in an exchange filing. A spokesman for the ministry wasn’t immediately available for comment.


This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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