DHFL warns it may not survive as a going concern

Money Control | Jul 14, 2019 at 8:58 AM
  • One of India’s biggest housing finance companies, Dewan Housing Finance Corp (DHFL), warned on July 13 that its financial situation was so grim that it may not survive.
  • DHFL separately announced on July 13 it had defaulted on interest payments worth 285.8 million rupees on non-convertible debentures, due on July 6 and July 8.
  • The shadow banking sector has been in turmoil since September as Infrastructure Leasing and Financial Services (IL&FS), one India’s largest non-banking financial firms, defaulted, sparking fear of contagion risk.