Dalmia Bharat Denies SFIO Report on Mutual Fund Misappropriation

Dalmia Bharat subsidiary DCBL's mutual fund units were misappropriated by depository participant Allied Financial Services.
SEBI investigated, found Allied's conduct fraudulent, seized its assets, and imposed penalties on Allied and ISSL.
The Supreme Court ordered the release of the misappropriated mutual funds to DCBL in August 2019.
The company denies recent media reports on an SFIO investigation, calling them speculative and motivated.