Shares of Indiabulls group stocks are under severe selling pressure after income tax raided its offices. According to CNBC-Awaaz sources, around 1000 I-T officials are involved in search of Indiabulls offices and residence of promoter Sameer Gehlaut. Indiabulls Housing Finance , Indiabulls Real Estate , Indiabulls Ventures and Indiabulls Wholesale Services fell 5-10 percent intraday on Wednesday. It is learnt that Indiabulls had borrowed Rs 1700 crore from a company and later went on to acquire it. The group's name is also under scanner due to few benami transaction in selling flats. I-T sleuths are also probing the company's recent restructing.
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