DHFL appoints 'independent' accounting firm to verify charges

Dewan Housing Finance Corp (DHFL) on Thursday appointed an "independent" chartered accountant firm to verify the recent allegations of a Rs 31,000-crore scam involving the company. The development comes after reports emerged that the Ministry of Corporate Affairs might probe the news portal Cobrapost's claim that the primary promoters of DHFL siphoned off public money to the tune of Rs 31,000 crore through loans and advances to shell companies and other means to create private wealth for themselves.

"The Audit Committee of the Board of Directors of the company at its meeting held on Thursday, has appointed an independent Chartered Accountant firm to verify the allegations made in the complaint and submit a report in a time-bound manner," DHFL said in a regulatory filing. Stocks of DHFL slumped for the third consecutive day since the report was published on Tuesday. On Thursday, its stock price on the BSE settled at Rs 135.85, lower by Rs 25.75 or 15.93 per cent from the previous close.