Market regulator SEBI has informed Indiabulls Housing Finance of non-compliance related to the availability of certain information on the company’s website and internal policy.

SEBI has directed the company to take corrective measures and inform the stock exchanges in a month, the company said in an exchange filing on Thursday, adding that the regulator concluded its detailed investigations carried over the last two years and informed of these issues through a letter on February 22.

‘Did not find wrongdoing’

“It is noteworthy that SEBI has not found any wrongdoing on part of the company with respect to the specific allegations as mentioned in the PIL and the complaints filed,” Indiabulls Housing Finance said.

SEBI’s corporate finance investigation department had been undertaking a probe since May 12, 2020 on various allegations levelled against the company by a group of people. It also said that the Ministry of Corporate Affairs, after inspecting the company’s books, observed that three loans out of the five (that were the subject matter of the PIL) were repaid and the remaining two were reported to be “Standard Accounts”.

“Additionally, based on facts referred to in the counter affidavit of RBI, it has submitted that the PIL is not maintainable either on facts or on law as against RBI and hence liable to be dismissed as such,” it further said.

In 2021, the NHB too, after conducting a detailed Special Audit, did not find any wrongdoing by the company in relation to the allegations, Indiabulls Housing Finance said.

Further, the Supreme Court had disposed a petition containing similar allegations and the Bombay High Court had also granted stay on a police complaint consisting similar allegations while passing serious observations against the complainant, the company added.