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Harshil Mehta resigns as DHFL CEO, to continue association with firm

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

Press Trust of India  |  New Delhi 

DHFL

on Wednesday said its Harshil Mehta has decided to resign from his position 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," 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 allegedly siphoned off Rs 31,000 crore out of the total 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 related to DHFL's primary stakeholders Kapil Wadhawan, Aruna Wadhawan and Dheeraj Wadhawan.

It alleged that this was done through their proxies and associates, which have in turn passed the money on to the controlled by the Wadhawans.

First Published: Wed, February 13 2019. 22:15 IST
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