DHFL did not promote any shell companies, says audit report

The independent audit report is on 39 of the 64 allegations levelled against the housing finance company by a news agency

An independent report commissioned by the audit committee of troubled Dewan Housing Finance Corporation (DHFL) has given a clean chit to the firm on allegations of routing money through shell companies. However, some money may have been lent to entities to buy shares of a company floated by the promoters of DHFL.
 
The audit report said loans given for slum rehabilitation projects to four real estate companies were probably used to buy shares of another real estate company (Darshan Developers) held by Kyta Advisors.
 
Kyta Advisors and its eponymous sister companies were promoted by the Wadhawans, also promoters