In the past three trading days, till Wednesday, most of the Indiabulls Group stocks fell in the range of 11 to 25 per cent after the development came out in public domain.
Refuting charges of misappropriation of funds by Sameer Gehlaut and other directors, Indiabulls Housing Finance
late on Monday evening said that the allegation was "bizzare" and was meant to malign the reputation of the company.
Abhay Yadav, in his affidavit filed today, mentioned that he was not aware of the contents and allegations mentioned in the complaints or the petition.
"I now realise that such papers, affidavits, applications etc. were signed by me have been misused to file false complaints and petitions against Indiabulls with malafide intentions,” Yadav said. CLICK HERE TO READ PRESS RELEASE
Lakshmi Vilas Bank, too, gained 10 per cent to Rs 68, bouncing back 13 per cent from its early morning low of Rs 60 on the BSE.