Indiabulls Housing Finance shares rose 14 percent on the National Stock Exchange on Tuesday, when law firm Manasium Juris publicly apologized for filing a false case of fraud against Indiabulls. Kansalaya Pandey, lawyer for Manjiam Juris, publicly apologized. After this, Indiabulls shares registered a 14 percent increase in intraday trading.
Managiyam Juris said in a statement, 'We came to know of plans to merge Indiabulls Housing Finance Limited with Laxmi Vilas Bank. Due to its sensitive issue, many clients made sensational allegations on the company.
The law firm had earlier alleged that Indiabulls had defrauded public money worth Rs 98,000 crore. The firm said, "All false and factually incorrect complaints have been withdrawn, which were prepared and filed by my office."
"We promise never to engage in such activities in the future, that neither I nor my firm will file any future lawsuit directly or indirectly against Indiabulls Group or its companies," the statement said. . '
