rivate equity firms Baring India, Bain Capital and Hero Fincorp are interested in buying a 10 percent stake in Dewan Housing Finance Corporation Ltd (DHFL), reported The Economic Times, citing people with knowledge of the matter.
DHFL chairman and managing director Kapil Wadhawan, who has also taken an additional charge of CEO, will step down once the process is over, added the news report.
DHFL shares have been under pressure after an investigative news portal Cobrapost alleged financial irregularities by DHFL promoters. The news portal said the promoters siphoned off Rs 31,000 crore via loans to dubious companies. DHFL in an official statement refuted the claims.
The non-banking financial company had sold earlier in February nearly 80 per cent of its holdings in Aadhar Housing Finance to Blackstone Group in order to ease the liquidity crunch.
CNBC-TV18 reported last week that the Income Tax Department has summoned the housing finance major to explain “certain suspicious transactions.” According to sources, “The Income Tax Department has sent notice to DHFL under Section 131 of I-T Act to furnish books of accounts explaining certain suspicious transactions.”