Indiabulls to provide huge loans to subsidiary | india | Hindustan Times
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Indiabulls to provide huge loans to subsidiary

Indiabulls Financial Services Ltd on Monday said it would provide Rs 4,800 crore as loan to its various subsidiaries.

india Updated: Jun 07, 2006 13:31 IST

Indiabulls Financial Services Ltd on Monday said it would provide Rs 4,800 crore as loan to its various subsidiaries.

The shareholders through postal ballot authorised the Board to provide Rs 1,500 crore as loan to Indiabulls Securities Ltd, a subsidiary of the company, the company informed the Bombay Stock Exchange.

The company would also give Rs 1,000 crore loan each to two other subsidiaries --Indiabulls Credit Services Ltd and Indiabulls Finance Company Pvt Ltd.

A loan worth Rs 300 crore would be provided to Indiabulls Capital Services Ltd, it added.