Don’t have any outstanding term loan from Yes Bank: Indiabulls Housing Finance

NEW DELHI: Indiabulls Housing Finance Ltd (IHFL) on Sunday said the company as well as its promoters do not have any outstanding term loan from Yes Bank.

The company was clarifying on “some rumours” in social media in this regard.

“In relation to some rumors and misinformation in social media regarding term loans of Yes Bank to Indiabulls Housing Finance, we would like to place facts in public domain that the outstanding terms loans from Yes Bank to Indiabulls Housing Finance are Zero,” an IHFL statement said.

It further said that the outstanding term loans from Yes Bank to promoter of Indiabulls Housing Finance or any of his promoter companies / family members companies are Zero.

In a separate filing, Karnataka Bank also rejected some news reports that had raised doubts on the safety of some banks using an “absurd and flawed so called M-cap to deposit ratio”.

The bank asserted that its financial health is sound and the Capital to Risk Weighted Assets ratio, the main parameter, is well above the limit prescribed by the RBI.

Indiabulls Housing Finance said the misinformation campaign on Indiabulls Housing Finance is being orchestrated by the blackmailing and extortion gang who we have been dealing with for past one year, few members of this gang are in jail and few are absconding.

The company said, “We are in process of taking legal action on various media platforms that the gang is abusing to spread misinformation about Indiabulls Housing Finance.”