Shares of Bharat Financial on Tuesday fell nearly 10 per cent after its President S Dilli Raj was arrested by the Enforcement Directorate as part of an investigation.
Shares of Bharat Financial on Tuesday fell nearly 10 per cent after its President S Dilli Raj was arrested by the Enforcement Directorate as part of an investigation.
“Bharat Financial Inclusion Limited, formerly known as SKS Microfinance Limited, hereby intimates that it has come to its knowledge that its President S Dilli Raj has been arrested by the Enforcement Directorate in respect of an ongoing investigation in a complaint filed by IDBI Bank against First Leasing Company of India,” the company said in a regulatory filing on Monday.
Following this, the stock of the company opened on a weak note, lost further ground and touched an intra-day low of Rs 814.05. It closed at Rs 822.20, down 9.73 per cent, on BSE. On NSE, the stock opened at Rs 820 and settled at Rs 822.65, down 9.66 per cent.
The company, however, said the investigation does not in any way relate to the present company, Bharat Financial Inclusion.
