Working with creditors to avoid haircut, says DHFL

BENGALURU: Crisis-hit Dewan Housing Finance Corp Ltd (DHFL) said on Monday it was working closely with its creditors and stakeholders on a resolution plan that would not require its lenders to take a haircut. The statement comes after the shadow bank warned on Saturday it might not survive as a going concern and reported a net loss of Rs 2,224 crore for the March quarter. “While the sectoral stress is well known for months, DHFL has withstood intense pressure and continues to remain strong and solvent,” the company said on Monday. PTI