In its report on DLF titled ‘crumbling edifice’, analysts Neeraj Monga and Nitin Mangal have slammed the company’s accounting practices, business model and . After Kingfisher, Veritas demolishes DLF – Shares of DLF plunged as excoriated DLF, dubbing India’s largest realtor ‘a crumbling edifice’. Meanwhile, in a report titled A Crumbling Edifice, analysts Neeraj Monga and Nitin Mangalof Veritas Investment Research Corp. said DLF was.

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DLF’s accounting gets a close look

Indiabulls has filed a police complaint against Veritas’ Canada-based executive vice president and head of research Neeraj Monga and analyst Nitin Mangal, the authors of the report, it said in its regulatory filing. According to the latest report by Veritas, the stock should be valued at Rs per share. It recommended a “Sell” on Reliance Communications, expecting a significant additional downside in the stock and values it at Rs 15 per share. Management also garnered some national awards subsequently, thereby cementing its position in the annals of Indian business stalwarts.

In a report published by Toronto-based Veritas on Aug. Last Updated December 19, 1: Russia Detains American on Spying Charge. The latest is Indiabulls Group, a Mumbai-based company which began in broking but branched out to real estate and other businesses.

It added that the application filed in the Delhi high court in March for merging Indiabulls Infrastructure Development with Indiabulls Power contains statements that can be characterized as misleading.

Jerry Technicals – Redefining the art of stock trading: Veritas Report on DLF

From putting China ties on even keel to getting crucial US waivers, Modi govt managed geopolitics with flair in The carrier, verita by Vijay Mallya, stopped flights the following year after losses widened amid mounting debt. POCM is the most favoured way of booking revenues by realty players in the country but its authenticity has been widely questioned by analysts.


The Veritas duo believes that DLF will seek assistance from financial institutions to restructure its loans. Wed, Aug 08 Stock research in India generally focuses on only short-term prospects for price movements rather than bigger and more critical issues of corporate governance and accounting practices.

Stock market anticipating a volatile year ahead. However, this report in question is presumptive and mischievous as the analysts have never contacted the company to seek any information or clarification.

DLF&#;s accounting gets a close look – Livemint

In recent times, stocks of Indian companies that Veritas has written about have witnessed sharp falls in value, at least over the short term. Most importantly, we do not believe the disclosed book equity and asset base of the Company.

Also, the report cites an example of its Capital Greens project and abusing the percentage completion method POCM in the same. Stock analysts are sometimes loathe to write negative reports on companies in the clubby world of Indian business. Indian police said they arrested stock analyst Nitin Mangal on charges of extortion and forgery related to a report he wrote for Veritas Investment Research Corp.

Indiabulls Group has a networth of PVR crjmbling raise Rs crore through issue of securities to qualified institutional buyers, seeks shareholders’ nod. Sensex finishes year above 36, posts third straight annual gain. According to the report, DLF has faltered at crunbling step — by selling its hotel assets and exiting mega edifkce projects in Karnataka and West Bengal, to name a few.

It was followed by Indiabulls Real Estate, which started life as part of Indiabulls Financial Services before being spun off as an independent company. Indiabulls said in an e-mailed statement Thursday that it had filed a counter-suit curmbling New Delhi and that Veritas and Monga failed to appear before that court despite having had notices to do so served upon them.


From rich Asian Games medal haul to cricket team’s success in Australia, a defining year for India Caught in the cycle of debt and death, India’s farmers drove home the severity of the agrarian cumbling in It said the sole purpose of Indiabulls Real Estate is to benefit select investors.

A file photo of the Indiabulls office in Gurgaon. We are regulated and licensed by the relevant financial service authorities to do so,” Monga told Economic Times.

As the report surfaced in the market, quite a few sdifice analysts across brokerages agreed with Veritas’ research rationale. In March, it said DLF is a crumbling edifice and valued its share at not more that Rs apiece, adding that claims made by the management about its ability to execute projects were fanciful.

The latest is the Indiabulls Edificf, a Mumbai-based company which itself began in broking but branched out to real estate and other business.

But Veritas, which is known for making bold calls, is no stranger to controversy in India. Veritas has accused the real estate group of poor corporate governance and irregularities in its accounting and financial practices.

Canadian equities research firm Veritas Investment Research, which hit the headlines last year for raising fingers at corporate governance of some of the top business groups in the country, is back doing what it does best — ripping apart companies which it finds overvalued and not shying away or mincing words while doing so.

Exchange rate is average for reported five years.