The scandal that has broken out around Dewan Housing Finance via the Cobrapost report, has resulted in a strongly worded response. The management issued a release calling the article "a mischievous misadventure by Cobrapost" adding that "DHFL as a responsible corporate has met all its obligations to the lenders and has paid back to them in excess of RS.17,000 crores in the last three months. DHFL has a strong corporate governance regime and has received AAA credit rating from leading credit agencies".

DHFL has also suggested that the source of these accusations is an "anonymous note" that "has been making the rounds with similar defamatory and scurrilous allegations". Dewan Housing is suggesting that this is a deliberate attempt to destabilize DHFL at a time when it is attempting to meet loan obligations.

The management so far has however, not addressed the specific fraud allegations in the report, including the explosive claim that over Rs 21,000 crore of DHFL's funds were siphoned off to a network of shell companies under the guise of loans and investments. 

Shareholding data on DHFL shows that FII/DIIs had reduced their holding sharply by the September quarter, where total stake in the company fell from 29% to 25.8%. BNP Paribas Arbitrage and Lazard Emerging Markets still hold substantial stakes in the company, as does Rakesh Jhunjhunwala (as of the December quarter).