Intimation under Regulation 30 of SEBI LODR. Filing of Fraud Monitoring Report -1 with NHB.

Fraud confirmedRegulatory & Legal View source PDF Explain this filing

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₹4.24

prior close

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+4.6% vs market

Housing Finance Company peers, median of 16sector-0.4%+5.4% vs sector

On the reaction day the stock moved 4.6 pts more than Nifty Microcap 250 and 5.4 pts more than its Housing Finance Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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+10.1+4.5+5.6+4.3+5.9

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UpDownMarket · Nifty Microcap 250Sector · Housing Finance Company peers, median of 16Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Star Housing Finance has filed a Fraud Monitoring Report-1 with the National Housing Bank (NHB) following a snap audit conducted by NHB. The audit suspects a phantom (fake) loan book worth Rs. 120 crore. The company has clarified that these findings are currently suspected and have not been formally established. The board has decided to appoint independent auditors to conduct a thorough external audit on this matter. This disclosure is being made under SEBI's Regulation 30 listing obligations.

Likely market impact

This is a serious red flag for investors as it involves potential fraud/misrepresentation of loan books, a core asset for a housing finance company. While the company states findings are unestablished, the NHB snap audit itself suggests regulatory concerns. The stock could face significant negative sentiment until the independent audit concludes.