Officials said the searches covered multiple premises of the firm in Mumbai and Delhi.
Tax officials saidsome instances of "asset transfers" are also under their scanner
The Maharashtra police has booked Indiabulls group companies, including its flagship Indiabulls Housing Finance (IBHL), for allegedly siphoning off funds and for accounting irregularities committed by the promoters and directors of the company between 2014 and 2020. A first information report was registered by the Palghar police on April 13 under various sections of Indian Penal Code dealing with cheating, fraud and criminal conspiracy. The move comes after Palghar's judicial magistrate passed an order under Section 156 (3) of the Code of Criminal Procedure (power to direct police/agency to investigate the matter), following a complaint filed by Ashutosh Kamble, a shareholder of IBHL.
Indiabulls responds to allegations on promoter-owned companies siphoning off profits.
Anti-corruption-activist-turned -politician Arvind Kejriwal has emerged as the 'new theme' for stock market traders.
Hacker group John Wick is said to be responsible for the Paytm Mall database breach.
The firm bought the 87,444-sq ft feet property -- 22, Hanover Square -- from Scottish Widows Investment Partnership (part of Aberdeen Asset Management), which had put the building up for sale in April through consultancy firm H2SO.
Neeraj Monga says he might initiate legal action against Indiabulls for slanderous remarks.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Scores of employees took to social media to express disappointment and said they were asked to resign over WhatsApp calls. On Twitter, some said they had been asked to resign by May 31 and that there was no severance package and salary would be paid only for May.
Commodity markets regulator FMC on Wednesday said it has given approval to the Anil Ambani Group to acquire 26 per cent stake in Indian Commodity Exchange from one of its promoters, Indiabulls group.
Last week, Indiabulls Infratech, part of the Indiabulls group, bagged NTC's Bharath Mill land, spread over 8.3 acres, in Mumbai for Rs 1,505 crore (Rs 15.05 billion).
Indiabulls has offered to sell 26 per cent of its stake in the year-old Indian Commodity Exchange to an ADAG group company.
Says Bhushan-Essel combine, the highest bidder, has withdrawn but latter denies having done so.
Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, RBI may not be comfortable with a bank owner having realty business under its wings.
In order to tap the booming construction sector, Europe's leading infrastructure group, Strabag SE, has joined hands with Indiabulls Real Estate Ltd for working on large development projects in the country.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
After consumer finance and real estate, the Indiabulls Group is set to step into the retail business. Indiabulls Wholesale Services Ltd, a subsidiary of listed firm Indiabulls Real Estate Ltd, will set up 30 hypermarkets across as many smaller cities in the country in the next 15 to 18 months with an outlay of Rs 1,500 crore (Rs 15 billion).
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
Be it for the organisation they work for, or for their own venture, if they believe in an idea, they work relentlessly towards it.
Additional levy to eat into Rs 6,000-crore income of top promoters
Licence winners are expected to be announced by the first quarter of 2014.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
Adani Enterprises has 14 resolutions to pass, Adani Ports & SEZ has 13, Adani Power 12.
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