SRG Housing Finance Denies False News on Fictitious Loan Accounts
SRG Housing Finance Ltd has issued a clarification strongly denying recent news reports alleging fictitious loan accounts flagged by NHB. The company states it has received no communication from NHB regarding any red flags. SRG Housing Finance asserts that the articles present a distorted and misleading account of facts, emphasizing that no fictitious accounts were created or maintained, and no funds were diverted. The company acknowledges that NHB is conducting a routine periodic audit, which is currently ongoing. SRG Housing Finance maintains that such regulatory exercises are standard and do not constitute adverse findings. The company will make necessary disclosures if any material development arises.
Key Highlights
- SRG Housing Finance denies allegations of fictitious loan accounts.
- Company states no communication received from NHB regarding red flags.
- NHB audit is currently underway as part of routine oversight.
- Company asserts no fictitious accounts or fund diversion occurred.
- No disclosure necessitated at this stage based on current facts.
Price Impact
More from SRGHFL