'No impending deals with Standard Chartered'

NEW DELHI: Real estate developers DLF Ltd and Unitech on Friday denied media reports that a foreign bank has held back disbursement of loans sanctioned to them and termed the news as "false and baseless".
    
In a communique to the Bombay Stock Exchange, DLF Ltd said, "there has been no impending transactions by DLF with Standard Chartered Bank or any other bank, and as a result, the question of refusing disbursement does not arise".     

A section of the media on Friday reported that "Standard Chartered Bank, the second largest foreign bank in India after Citigroup, has held back disbursement of loans sanctioned to DLF and Unitech."
     
DLF and Unitech were trading lower on the Bombay Stock Exchange at 2.45 pm.  While the Sensex scrip DLF was ruling at Rs 297.75, down 3.58 per cent, Unitech's declined 8.57 per cent at Rs 86.40.
    
Unitech in a separate filing to BSE clarified that the company has not been sanctioned any loan by Standard Chartered Bank and, therefore, the contents of the said news that the disbursement of loans sanctioned to the company has been held back is "completely false and baseless".
    
"The company completely denies the news reported and the same appears to be fabricated and the handiwork of certain vested interests," Unitech said.
    
Echoing Unitech's views, DLF said in a release that "the story is totally motivated and mischievous, and issued at behest of some vested interests."