New Delhi, Feb 27 (TIWN): Shares of Dhani Services declined 40 per dent in the week that ended on Friday (i.e five active trading sessions) after several people took to Twitter to raise red flags over some unaccounted loans in their names, via the misuse of their PAN details by fraudsters.

The shares of the company settled at Rs 73.75 on Friday, as against Rs 123.45 at the start of the week on Monday.

For availing loans, a user needs PAN and address proof details.

A person can avail of loans from Dhani by giving only PAN card details and address proof as documents. The Dhani app has over 5 crore downloads on the Google Play Store.

As reported by IANS on February 22, in several cases, PAN card holders found, while checking their CIBIL history, that loans were disbursed by Dhani to unknown individuals on their PAN details without their consent and knowledge.

Several users have tagged the Dhani app, the RBI, the Finance Ministry and other authorities explaining they have been a victim of a large identity theft.

"DLSL has come across a few instances where certain unscrupulous and criminal elements who have somehow gained access to other peoples PAN and their credentials from credit bureaus have used these to take a loan through the Fintech operation on the App," it said in a exchange filing to the BSE.