Indiabulls Financial Services, in a release issued to the BSE today, said Indiabulls Securities or group companies have not been involved in any fake trading or price fixing in the F&O segment.The release added that the firm/group companies have not traded directly or indirectly on its own account in the 23 trades as mentioned in the Sebi order. ALSO READ: FIXING IN F&O UNEARTHED"With respect to the Sebi order dated June 18, 2007 on dealing in futures and options contracts on NSE, some reports in press media suggest that Indiabulls Securities Ltd has been involved in fake trading / fixing of F&O prices. We wish to clarify that Indiabulls Securities or any of its group companies have not been involved in any fake trading or price fixing in F&O segment and have not traded directly or indirectly on its own account in the 23 trades on the F&O segment as mentioned in the Sebi order."Out of the mentioned 23 trades, 17 trades were done by clients through the internet trading, Indiabulls Securities is in the process of issuing notices and taking further strict measures against the clients who have executed these questionable 23 trades which have resulted into a close out difference of approx Rs 35 lakh."Meanwhile, Indiabulls Real Estate is in discussions with Maharashtra Industrial Development Corporation (MIDC) to finalise the latter's stake in the joint venture company, Indiabulls Industrial Infrastructure (IIIL), that is developing a multi-product SEZ at Nasik.Indiabulls Real Estate has acquired land for two housing projects in Chennai and one project in Panvel near Mumbai.
