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IndiaBulls files FIR against people spreading misinformation

Thursday - October 17, 2019 12:58 pm , Category : BUSINESS
Mumbai, Oct 17 (IANS) Troubled mortgage lender Indiabulls Housing Finance has filed an FIR with the Mumbai Police against individuals spreading false information against it.
In an exchange filing on Wednesday, the lender said the FIR contains specific proofs against persons for spreading false messages about the company.
"The complaint states that accused persons have hatched a pre-planned criminal conspiracy with the intent to cause wrongful loss to Indiabulls Housing Finance Limited, its shareholders and investors," it said.
"...they create sell positions in the shares of Indiabulls, a few days prior to release/publishing of false and frivolous tweets, messages etc on the social media and seek unlawful gains for themselves," the lender added.
In a separate statement, the company informed the bourses that the rating committee of CRISIL has reaffirmed the long-term rating of Indiabulls Housing Finance Limited at "CRISIL AA+" and short-term at "CRISIL A1+".
However, the global credit ratings agency has downgraded the corporate family rating (CFR) and the foreign-currency senior secured rating of Indiabulls Housing Finance Limited to B2 from Ba2, after the Reserve Bank of India's rejection of its proposed merger with Lakshmi Vilas Bank earlier this month.
IndiaBulls was trading nearly 8 per cent higher on Thursday at Rs 186.50 per share on the BSE. The company's 52 week high was Rs 919.90 a piece.

--IANS ravi/rtp