Government has declined to disclose details of follow-up action on the Shunglu Committee report on large scale financial and managerial irregularities in Commonwealth Games related projects.
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Sebi pointed out instances of misleading the investors by reporting incorrect data on investor complaints, instances of inappropriate utilisation of funds meant for investor education, such as spending on programmes meant for financial advisors, charging of expenses to the said funds for stationery items such as notebooks, planners and calendars, and charging of expenses without adequate records.
Shares of Indiabulls Real Estate fell by over 12 per cent, Indiabulls Financial Services by 11 per cent, Indiabulls Power Ltd by 11.8 per cent and Indiabulls securities by about five per cent.
The controversy over Sant Rampal and his army of followers taking the law into their hands has once again thrown the spotlight on the clout that India's godmen possess.
Uttar Pradesh Chief Minister Akhilesh Yadav has claimed that an alleged financial fraud to the tune of Rs 40,000 crore could emerge in the installation of statues of elephants and memorials by the previous Mayawati government in the state. Akhilesh made the claim a day after a search was carried out by the police at the office of Rajkiya Nirman Nigam in Gomti Nagar for alleged irregularities in erection of statues of elephants at parks in Lucknow and Noida.
The Enforcement Directorate (ED) has filed a money-laundering case against renowned cardiologist Dr Naresh Trehan and others in connection with allotment of land for the Medanta Hospital in Gurgaon, officials said on Wednesday.
MCX-SX on Friday said the rights issue would now close on April 17.
