dewan housing finance sinks on reports of deposit curbs - sinks

by:KEDIBO     2019-09-14
dewan housing finance sinks on reports of deposit curbs  -  sinks
Bangalore: Housing Finance Co. , Ltd. , Dewan (DHFL)
Fell 18% to RS 106.
85. on Wednesday, media reported that the housing loan bank will stop withdrawing money in advance from the existing deposit plan and completely stop accepting the new deposit plan.
DHFL has been under review since media Cobrapost accused DHFL of transferring loans from Indian countries in January
Provide loans to shell companies (including those related to controlling shareholders.
Since then, its stock has lost its value for a quarter.
According to a statement issued by a news channel to depositors and financial planners, the revision of their fixed deposit plan credit rating prompted DHFL to take these measures.
In May 14, Care Ratings rated some of the company's debt instruments, including non-
Convertible bonds or non-communicable diseases worth Rs 46,655 ($6. 70 billion)
Credit observation of negative effects.
The latest move came months after DHFL re-appointed chief financial officer Santosh Sharma to another position due to allegations of poor financial management, and chief executive Ash Mehta resigned.
DHFL did not immediately respond to a request for comment from Reuters.
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