It also barred the company from the securities market for two months.
The case stemmed from an unauthorised pledge of ZEEL’s Hyderabad land to secure loans worth ₹726 crore which were availed by four closely held borrowing companies from lender Indiabulls Housing Finance Ltd (IHFL).
ZEEL itself was not a borrower and did not receive any part of the loan proceeds.
It also barred the company from the securities market for two months.
The case stemmed from an unauthorised pledge of ZEEL’s Hyderabad land to secure loans worth ₹726 crore which were availed by four closely held borrowing companies from lender Indiabulls Housing Finance Ltd (IHFL). ZEEL itself was not a borrower and did not receive any part of the loan proceeds.
