IRB Infra shares plunge 15% as director faces polygraph test in murder case
Agam Gupta, MD- Head of FXRC Trading - India at Standard Chartered told NDTV Profit that a mismatch in demand-supply has led to the rupee reaching the 54 per dollar level.
Shares of Ideal Road Builders (IRB) Infrastructure plunged today after a court granted permission to the Central Bureau of Investigation (CBI) to conduct polygraph test on the company's chairman and managing director Virendra D Mhaiskar in a murder case. A polygraph or a lie detector test records physiological indices while the accused answers a series of questions.
"The case pertains to the murder of a renowned RTI activist in January 2010. I was named as one of the suspects," Mhaiskar told NDTV Profit today.
Mhaiskar's name was mentioned by Sandeep Shetty, brother of deceased Satish Shetty, in his FIR. In its application, the CBI stated that it is necessary to subject the suspects to polygraph tests to unearth larger conspiracy, involving influential persons, behind the January 2010 murder.
"We have land along the Mumbai - Pune expressway and as a result there were doubts raised about the credentials of the land that we had bought," Mhaiskar told NDTV Profit.
By noon, shares of the company sank over 15 per cent to Rs 141.80 on the BSE. In contrast, the Sensex traded 0.72 per cent lower at 17,177.
"I am not seeking any legal opinion. Let the law take its course," Mhaiskar added.
