Dewan Housing jumps after auditor report says no funds diversion

Shares of Dewan Housing Finance Corp Ltd surge as much as 21.2 per cent.

Update: 2019-03-06 04:52 GMT
The board of the company in its meeting on Saturday approved the proposal to raise capital up to Rs 2,000 crore, DHFL said in a filing.

Shares of Dewan Housing Finance Corp Ltd surge as much as 21.2 per cent on Wednesday, after the home loan provider released a report by an independent chartered accountant saying that it had not created shell companies to divert funds.

Investigative media outlet Cobrapost had alleged in January that loans from Indian state-run lenders were diverted by Dewan Housing to shell companies, including those linked to its controlling shareholders.

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