Mumbai | Kolkata: PNB Housing Finance’s two-year-long wait for capital was about to end this month. But uncertainty surrounds the fundraising plan as the mortgage lender battles allegations of short-changing minority investors and bypassing procedures to benefit a few. The proposal to raise Rs 4,000 crore in a share sale structure that aimed to balance the need for funds to grow and overcome investment curbs faced by parent Punjab National Bank (PNB) is facing scrutiny on whether it ticks all the boxes on governance and legal compliance. The board of PNB Housing on May 31 approved placement of 82 million preferential equity shares and 20.5 million share warrants with Pluto Investments, a Carlyle Group company, Salisbury Investments, the family investment vehicle of former HDFC Bank MD Aditya Puri, General Atlantic Singapore Fund FII and Alpha Investments V. Carlyle led the infusion with 80 per cent contribution.