The company has since denied receipt of any communication from any authority w.r.t the look-out notice against the promoters.
Shares of Dewan Housing Finance Corporation fell more than 3 percent intraday on May 29 on media reports that the ministry of home affairs (MCA) had issued a lookout notice against the promoters of the company over non-existent shell companies.
According to a report in The Economic Times, the notice was issued on the behest of Ministry of Corporate Affairs (MCA), which had earlier tracked shell companies associated with DHFL.
The ministry reportedly did not find any shell companies on the registered DHFL address at the time of physical verification.
DHFL has since denied receipt of any communication from any authority with respect to the look-out notice against the promoters of the company.

The reports of misconduct first made rounds in January when investigative journalism outlet Cobrapost alleged that the promoters of DHFL had siphoned Rs 31,000 crore.
The publication alleged that the mega scam was pulled off by sanctioning and disbursing huge amounts in secured and unsecured loans to ambiguous shell companies.
At 1457 hours, DHFL was quoting Rs 115.15, down 3.28 percent on BSE.

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