DHFL Update 2019 -may be a payment crisis in the near future.

DHFL: There may be a payment crisis in the near future.

• Not be able to pay its lenders the near future liabilities
• Facing a cash crunch has raised its hand in the matter of payment.
• Despite this, it has so far repaid a debt of Rs 41,000 crore.
• The company currently has a debt of over Rs 90,000 crore and has defaulted on a number of payments over the past few months.

“In the information given to the stock markets, the company said that the resolution plan is under negotiation with the lenders who have signed the Inter-Creditor Agreement (ICA)’’

DHFL

Facing a cash crunch has raised its hand in the matter of payment. the Dewan Housing and Finance Limited (DHFL), on-banking financial company (NBFC) said on Thursday that it would not be able to pay its lenders the near future liabilities. In the information given to the stock markets, the company said that the resolution plan is under negotiation with the lenders who have signed the Inter-Creditor Agreement (ICA). In the wake of this negotiation, the company may fail to pay lenders agreeing to the ICA in the near future.

The company also said that it has been facing a cash crunch since September last year. Despite this, it has so far repaid a debt of Rs 41,000 crore. This amount is raised from the loans paid by the customers besides the sale of properties. DHFL said in its statement that it is committed to meet all its challenges. The company is taking all possible measures to arrive at a solution plan that is in the highest interest of all the partners. According to the company, most of its lenders have agreed on the implementation of ICA.

Catalyst Trusteeship Services Limited, a debenture trustee of the company, is also working on the process of obtaining consent from the debenture holders to become part of the ICA. Significantly, on Tuesday this week, the company said that none of its lenders would have to bear the brunt of any deduction on principal. The company currently has a debt of over Rs 90,000 crore and has defaulted on a number of payments over the past few months.

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