Police Bust Racket Behind False Claims Against Indiabulls

Mumbai: Indiabulls Housing Finance Ltd on Tuesday said that police in Gurugram in Haryana had uncovered a racket of hurling allegations of money laundering at the housing finance company. In a regulatory filing, the company said that a court in Gurugram had issued a non-bailable arrest warrants against Kislay Panday and his father Ram Mani Panday who are advocates by profession and who ran the “organised” racket. The father and son run a law firm from Delhi, Managium Juris LLP, it said.

“Investigations by the Gurgaon police into a complaint filed by Indiabulls against one Vikash Shekhar, who is under arrest (his bail petition has been denied by courts), has blown the lid off an organised racket run by Kislay Panday and Ram Mani Panday,” said the BSE filing. “Both of them are absconding and on the run. Records at the Seemapuri police station, Delhi, show that there are at least four FIRs against Kislay Panday and Ram Mani Panday filed between 2002 and 2011 by various individuals for offences such as cheating, fraud, extortion, blackmailing, threatening and offences under the Arms Act,” it added. (IANS)

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