Shares of Indiabulls group companies advanced after Delhi High Court restrained BJP leader Subramanian Swamy and social media giants from disseminating any false, offending or defamatory allegations against Indiabulls Housing Finance.
Among Indiabulls groups shares, Indiabulls Integrated Services (up 5%), Indiabulls Real Estate (up 3.36%), Indiabulls Housing Finance (up 2.56%) and Indiabulls Ventures (up 2.07%) advanced.The Delhi High Courtin a civil suit filed by Indiabulls Housing Finance passed an order restraining/injuncting Dr. Subramanian Swamy, member of Rajya Sabha, and others from publishing, disseminating/uploading in any manner on their website, messenger application, social media including Facebook, Twitter and WhatsApp or any other platform operated and controlled by them, in respect of the allegation against Indiabulls Housing Finance which are false, offending, defamatory as tweeted by Dr. Swamy and mentioned in the suit. The Court has also directed Twitter, Facebook, Whats App etc. to remove/take down and/or expunge the offending false messages from their portals within two weeks from 13 September 2019.
In late July 2019, BJP Leader Subramanian Swamy had sent a letter to PM Modi, accusing the Indiabulls group of Rs 1 lakh crore fraud.
Swamy had urged Prime Minister Narendra Modi to institute a Special Investigation Team of the Central Bureau of Investigation (CBI), Enforcement Directorate (ED), Serious Frauds Investigation Office (SFIO) and Income Tax (IT) officials to probe into the money laundering of the Indiabulls group by siphoning the funds of the National Housing Bank.
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