March 14, 2019 / 10:01 AM / 12 days ago

India's Dewan Housing Finance denies report of clean chit by housing regulator

March 14 (Reuters) - India’s Dewan Housing Finance Corp Ltd (DHFL) denied on Thursday a media report that the housing regulator gave it a clean chit on allegations the mortgage lender had created shell companies to divert funds.

The Economic Times had reported here a consortium of 33 lenders was said to have given a clean chit to the company after they heard an auditor report.

An auditor last week dismissed media allegations that DHFL had created shell companies to divert funds, but said the firm’s monitoring of loans was inadequate, raising risks that some of them would turn sour. (Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)

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