IHFL's real estate exposure a challenge for merger with Lakshmi Vilas Bank

While wholesale book is down to 16% in Q1, it may still be outside the regulator's comfort zone

A public apology issued by Managium Juris LLP, a law firm run by Kislay Pandey for a petition he filed against Indiabulls Housing Finance (IHFL), took the latter’s stock price up by over 13 per cent on Tuesday.

The development is important, given that it clears the air regarding allegations of a Rs 98,000-crore of public money being misappropriated by the company. The petition was filed in June with the Supreme Court of India.

The apology is also important from the perspective of IHFL drawing closer to its proposed merger with South-based Lakshmi Vilas Bank (LVB). Announced in April this