<p class="title">Shares of Indian home loan provider Dewan Housing Finance Corp Ltd fell for the fifth straight session on Friday, a day after it appointed an "independent" auditor to investigate allegations of financial mismanagement against the company.</p>.<p class="bodytext">Investigative media outlet Cobrapost alleged in a report published Tuesday that a large amount secured from Indian state banks was diverted by Dewan to shell companies, including those linked to its controlling shareholders.</p>.<p class="bodytext">Dewan Housing has denied lending to shell companies and said on Thursday it had not received any communication from the Indian government in relation to a probe, after Reuters reported on Wednesday India had started a probe into Cobrapost's claims.</p>.<p class="bodytext">Dewan's shares fell as much as 11.7 to 120 rupees, its lowest levels since May 2014. The Mumbai-headquartered company, was the second most heavily traded stock on the National Stock Exchange.</p>
<p class="title">Shares of Indian home loan provider Dewan Housing Finance Corp Ltd fell for the fifth straight session on Friday, a day after it appointed an "independent" auditor to investigate allegations of financial mismanagement against the company.</p>.<p class="bodytext">Investigative media outlet Cobrapost alleged in a report published Tuesday that a large amount secured from Indian state banks was diverted by Dewan to shell companies, including those linked to its controlling shareholders.</p>.<p class="bodytext">Dewan Housing has denied lending to shell companies and said on Thursday it had not received any communication from the Indian government in relation to a probe, after Reuters reported on Wednesday India had started a probe into Cobrapost's claims.</p>.<p class="bodytext">Dewan's shares fell as much as 11.7 to 120 rupees, its lowest levels since May 2014. The Mumbai-headquartered company, was the second most heavily traded stock on the National Stock Exchange.</p>