Page 13 - Banking Finance July 2019

HOUSING

HOUSING

Dewan Housing share Racket behind fake claims against Indiabulls Housing
declines over 8% Finance busted
Indiabulls Housing Finance has said that a racket behind hurling allegations of
Dewan Housing Finance share price
money laundering at the company has been
declined 8.88%
busted by police in Gurugram in Haryana.
to 68.70 level
compared to The company said that a non-bailable arrest
previous close warrants has been issued against Kislay Panday
of 75.40 on and his father Ram Mani Panday who are ad-
BSE. Dewan vocates by profession and who ran the
Housing Fi- “organised” racket.
nance share
“Investigations by the Gurgaon police into a complaint filed by Indiabulls against
price fell 88.80% during the last one
one Vikash Shekhar, who is under arrest (his bail petition has been denied by
year and has fallen 71.13% since the
courts), has blown the lid off an organised racket run by Kislay Panday and Ram
beginning of this year.
Mani Panday,” said the BSE filing.
Two major credit ratings agencies,
“Both of them are absconding and on the run. Records at the Seemapuri police
ICRA and Crisil, earlier had
station, Delhi, show that there are at least four FIRs against Kislay Panday and
categorised DHFL's commercial pa-
Ram Mani Panday filed between 2002 and 2011 by various individuals for of-
per at default levels for missing bond
fences such as cheating, fraud, extortion, blackmailing, threatening and offences
payments. Dewan Housing said in a
under the Arms Act,” it added.
regulatory filing it would make the
outstanding payment in the next few Earlier, a petitioner filed a plea in the Supreme Court alleging misappropriation
of Rs 98,000 crore by the company, which was withdrawn recently. The Supreme
days "once the surplus cash flow po-
Court also pulled up petitioner Abhay Yadav, who had alleged that Indiabulls
sition improves" and stressed it was
misappropriated Rs 98,000 crore of public money.
vying to turn the corner.
"The company is already in the pro- The company said, “Over the last 10 days Kislay Panday and Ram Mani Panday
cess of selling down its loan assets in- are repeatedly sending the malicious complaint that was initially used for trying
cluding wholesale project loans to to extort monies from Indiabulls ... under the names of several people.”
make good all its obligations and
Our Mumbai Office Address
maintain its 100% commitment to all
its creditors as it has done since the Sashi Publications Pvt. Ltd.
liquidity crisis started in September 204, Hubtown Viva, Western Express Highway, Andheri East,
2018," DHFL said. Mumbai - 400 060, Phone: 9920220066 / 9004744058 / 9903040775

BANKING FINANCE | JULY | 2019 | 13