(Bloomberg) -- India's Ministry of Corporate Affairs has been investigating three Indiabulls Group companies since about a year and will submit its final report by the end of October, according to people familiar with the matter.
- Indiabulls Housing Finance, Indiabulls Ventures, Indiabulls Real Estate are being probed for potential wrongdoing by the Registrar of Companies, which is part of the ministry, the people said, asking not to be identified as the details are private
- Indiabulls has disclosed in court documents that the Ministry is inspecting its books, a representative for the company said
- Separately, the ministry has also imposed travel restrictions on the founders of Housing Development and Infrastructure Ltd., and may start inspecting the developer's books, the people said
- HDIL isn't aware of any action against the company and its founders, HDIL said in an exchange filing
- A spokesman for the ministry wasn't immediately available for comment
To contact the reporter on this story: Shruti Srivastava in New Delhi at ssrivastav74@bloomberg.net
To contact the editors responsible for this story: Arijit Ghosh at aghosh@bloomberg.net, Anto Antony, Jeanette Rodrigues
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
