The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Indiabulls Real Estate Limited has vide its letter inter-alia stated, "The Company has submitted its bid through its subsidiary, Citra Developers Limited, in respect of auction held by Court Receiver, High Court, Bombay, for land of Pal Peugeot Limited (in liquidation) situated at Dombivli. The said auction was conducted on April 22, 2008. The award of this bid and execution of definitive documents in respect of the same is subject to confirmation by the High Court of Bombay. There is presently no indication as to timing and manner in which the High Court order will be received." -- www.nseindia.com
