Indiabulls Housing settles case with SEBI

Mumbai: Indiabulls Housing Finance has settled a case pertaining to shareholding disclosure lapse with the Securities and Exchange Board of India after paying Rs 14.4 lakh towards settlement fees.

Indiabulls Employee Welfare Trust was holding more than 1 per cent in Indiabulls Housing Finance (earlier known as Indiabulls Financial Services), for the quarters ended December 2010 till June 2012.

However, Indiabulls Housing had allegedly failed to disclose the shareholding of Indiabulls Employee Welfare Trust to both NSE and BSE under the category of public shareholders holding more than 1 per cent of the company's shares