'Outstanding term loans from Yes Bank to IBHFL and its promoters are zero': Indiabulls

Indiabulls has clarified ir position on loan exposures by various corporate entities to Yes Bank Ltd (YBL) on Sunday. Indiabulls Housing Finance Ltd (IBHFL) claims that as of 31 December 2019, company’s loan exposure to YBL stood at Rs 425 crores. said loan, however, was subsequently repaid by mortg lender and that y aren't ‘large entity’ owing money to bank.

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private bank was placed under moratorium by RBI on March 5. IBHFL on Sunday informed Exchanges that y have outstanding term loan from Yes Bank. company also claims that outstanding term loans from Yes Bank to promoter, Sameer Gehlaut or any of companies linked to him or his family members are zero.

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'Outstanding term loans from Yes Bank to IBHFL is zero'

“In relation to some rumors and misinformation in social media regarding term loans of Yes Bank to IBHFL, we would like to place following facts in public domain…. outstanding term loans from Yes Bank to IBHFL are zero. outstanding term loans from Yes Bank to promoter of IBHFL or any of his promoter companies/ family members companies are zero,”  reads statement issued to Exchanges on Sunday

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“ misinformation campaign on Indiabulls Housing Finance is being orchestrated by blackmailing and extortion gang who we have been dealing with for past one year, few members of this gang are in jail and few absconding. We are in process of taking legal action on various media platforms that gang is abusing to spread misinformation about IBHFL,” added statement.

In ar filing by company on March 8 , company had informed Exchanges that , “... Yes Bank owes to IBHFL Rs 662 crores via AT-1 bonds. investments in AT-1 bonds of Yes Bank were made in 2017, as a part of its treasury manment of over Rs.20,000 crores of cash and when bank was worth over $ 10 billion in value,” stated Exchange filing.

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