The Delhi High Court on Tuesday admitted a plea by Indiabulls Housing Finance of alleged perjury committed by petitioner Prashant Bhushan, which helped its shares arrest a free fall.
The stock rose 4.68% after the court advanced the date of the public interest litigation (PIL) to October 24 from December 13 on the company’s plea.Indiabulls, in its response to a PIL filed by Prashant Bhushan and Citizens Whistle Blower Forum, said that it is yet “another motivated and malafide petition” filed by Bhushan with the intent of stalling and blocking the housing finance company’s merger with Lakshmi Vilas Bank.