INSUBCONTINENT EXCLUSIVE:
DHFL shares rose as much as 21% on the NSE.Shares of the Mumbai-based mortgage lender-Dewan Housing Finance Corporation Ltd
surged as much as 20 per cent to Rs 160.80 on the BSE after an independent chartered accountant firm T
On the National Stock Exchange, DHFL share price jumped 21.20 per cent to Rs 162.30
Cobrapost had alleged financial misappropriation by the controlling shareholders of the company.CA firm TP Ostwal Associates LLP said that
DHFL has not promoted any of the alleged 26 "shell" companies that are borrowers
Further, it does not have any directors in common, including members from the promoter group, with any of these alleged "shell" companies
Further, the company or promoters do not have any shareholding in these entities, nor are these entities shareholders of the
Company."Pertaining to allegations in respect of loans worth Rs 14,282 crore to 45 borrower-companies that are alleged to be part of Sahana
group or Wadhawan group, we do not find merit in these allegations," the CA firm said.The allegation of political considerations in
connection with certain lending was found to be baseless and without merit - there was no nexus between loans sanctioned and timing of the
All of such loans were, in fact, not sanctioned before or during either the Gujarat (December 2017) or Karnataka (May 2018) state elections,
the CA firm added in its findings, CA firm's report added.In today's trade DHFL shares saw heightened trading volumes as 46 lakh shares
changed hands on the BSE compared with an average of 18.52 lakh shares traded daily in the past two weeks.
