Indiabulls Group may rework exit plan, ownership of realty business

Indiabulls Group may rework its plan to exit the real estate business following the Reserve Bank of India rejection of a merger proposal of Lakshmi Vilas Bank and Indiabulls Housing Finance Ltd, a person aware of the matter said, even as it plans to turn Indiabulls Real Estate Ltd (IBREL) debt-free and work out its ownership pattern.