New Delhi: Dewan Housing Finance Corp Ltd said that the company or its promoter/directors have not received any communication from the authorities regarding issuance of any look-out notice.
Shares of Dewan Housing Finance Corp fell over 3 pc on Tuesday as several media reports said that the Ministry of Corporate Affairs (MCA) had issued a lookout notice against the promoters of the company over non-existent shell companies.
“As reiterated in the past, we deny all allegations of existence of any alleged shell companies. We have fully co-operated with all authorities and we have not received any communication from any authorities in support of any of these allegations,” the company said in a communication to exchanges.
In January, Cobrapost had alleged that the primary promoters of Dewan Housing Finance Corp (Kapil Wadhawan, Aruna Wadhawan, and Dheeraj Wadhawan) had siphoned off over Rs 310 bn through loans and advances from various Indian banks to shell companies to park money and buy assets outside India.
Dewan Housing Finance was among those non-banking financial companies which were hit by the liquidity crisis following defaults on debt repayments by Infrastructure Leasing & Financial Services Ltd and its group companies in late August.
