The shares of Indiabulls Housing Finance have crashed by more than 10% today on the BSE and more than 12% on the NSE after BJP leader Dr. Subramanian Swamy sent a letter to PM Modi accusing the group of a serious fraud (to the tune of more than One Lakh Crore Rupees). The company has, however, denied any wrongdoing.
The below tweet of Dr. Swamy is self-explanatory:
Subramanian Swamy charges India Bulls of laundering more than Rs. 1 Lakh Crores. Demands probe by SIT and Special Audit https://t.co/NkEeJoEACk via @PGurus1— Subramanian Swamy (@Swamy39) July 28, 2019