February 14, 2019 / 4:40 AM / in 7 days

Dewan Housing shares fall after CEO resigns

(Reuters) - Shares in Dewan Housing Finance Corp Ltd fell as much 6.5 percent on Thursday morning after the home loan provider’s chief executive Harshil Mehta resigned.

Dewan shares have lost nearly 50 percent of their value since allegations of financial mismanagement by investigative media outlet Cobrapost late last month.

Dewan denied the allegations and held a conference call on Feb. 4 to assuage its investors on liquidity concerns, saying it was keen to sell assets and some of its businesses.

Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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