Moneycontrol
Last Updated : Feb 14, 2019 09:22 AM IST | Source: Moneycontrol.com

DHFL falls 5% after resignation of CEO Harshil Mehta

"However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019," DHFL said in a regulatory filing on stock exchanges.

Sandip Das @Im_Sandip1
 
 
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Share price of housing finance company, Dewan Housing Finance Corporation (DHFL) tanked over 5 percent on the NSE after the company informed about the resignation of its CEO Harshil Mehta with immediate effect.

"However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019," DHFL said in a regulatory filing on stock exchanges.

Besides, the board has recommended appointment of Sunjoy Joshi as an Independent Director and Srinath Sridharan as a Non-Executive Director.

Recently, Cobrapost alleged that Dewan Housing Finance Corporation Ltd (DHFL) through layers of shell companies allegedly siphoned off Rs 31,000 crore out of the total bank loans of Rs 97,000 crore.

The expose alleged that the scam has been pulled off mainly by sanctioning and disbursing astronomical amounts in secured and unsecured loans to dubious shell or pass-through companies related to DHFL's primary stakeholders Kapil Wadhawan, Aruna Wadhawan and Dheeraj Wadhawan.

At 09:16 hrs Dewan Housing Finance Corporation was quoting at Rs 106.40, down Rs 4.15, or 3.75 percent. It has touched an intraday high of Rs 106.50 and an intraday low of Rs 104.00.
First Published on Feb 14, 2019 09:18 am
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