Shares of Dewan Housing Finance Corporation (DHFL) were locked in the 5 percent lower price band at Rs 18.45 on BSE on October 24 after reports emerged its lenders will be sending findings of KPMG's forensic audit report to debt-ridden DHFL to seek its reply.
DHFL is expected to disclose the essence of the banker's note to the exchanges, sources told CNBC-TV18. KPMG's forensic report on DHFL is still in the draft stage. When presented to bankers, the report was still unsigned.
KPMG is expected to present the final signed version of the forensic report shortly.
The lenders have said that they had earlier apprised the Reserve Bank of India that they wish to convert loans to equity and then run the company.
Bankers told CNBC-TV18 that they plan to let Kapil Wadhawan hold around a 10 percent stake in the company as a revamp now seems unlikely. They added that all lenders want a total change of management.
It was earlier reported that the KPMG audit had found that DHFL promoters had diverted nearly Rs 20,000 crore of bank loans to its related entities.
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