ALFA Filings
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Star Housing Finance Limited reported a combined principal default of ₹1.82 Crore on term loan installments due to Hinduja Housing Finance and LIC Housing Finance. The company's total financial indebtedness stands at ₹410.02 Crore. These disclosures are made pursuant to SEBI's default reporting regulations.
Star Housing Finance Limited reported a suspected phantom loan book fraud of ₹120 Crore to the National Housing Bank. The findings followed a snap audit by the NHB. The company is appointing independent auditors for a thorough external investigation to establish the facts regarding these suspected findings.
Star Housing Finance's Board acknowledged the NHB Snap Audit Report. Management was instructed to provide an immediate response, and the Board directed an external audit of all sections by independent professionals. Suspicious transactions, if any, will be reported to regulatory authorities via FMR-1 as per compliance requirements.