Indiabulls Group firms end mixed after management clarifies on tax raids

Shares of Indiabulls Group companies traded mixed in trade on Thursday after the management informed BSE that the Income Tax Department had come to some of their offices to check their books, and they furnished all details required. 

"This is to inform that the Income Tax Department came to some of our offices to check our books in the normal course. We have extended all assistance and provided all desired information to the team of officials," said Indiabulls in a filing to BSE.

"During the last year, the Indiabulls Group has paid an aggregate of Rs 782 crore as income tax and Rs 372 crore as service tax to the department," the statement added.

The stock of Indiabulls Housing Finance ended over 3 per cent lower, while Indiabulls Real Estate settled the day flat. On the other hand, stock of Indiabulls Ventures and Indiabulls Wholesale Services gained 5.17 per cent and 4.07 per cent, respectively. 
 
On Wednesday, these stocks had fallen up to 10 per cent in intraday trade.