On Tuesday in morning trade, shares of Dewan Housing Finance Corporation (DHFL) gained over 3 per cent after the company said it expects an in-principle approval from its lenders to its the resolution plan by month-end on Monday.
In a late evening regulatory filing while releasing the company’s audited results, the ability of the company to continue as a going concern is predicated upon its ability to monitor its assets, secure funding from the bankers or investors, restructure its liabilities and recommence its operations, DHFL said. The company has received non-binding indicative term sheets as part of the proposed corporate restructuring of the company and any proposals approved will constitute a part of the resolution plan, DHFL said.
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Benchmark BSE Sensex was almost flat at 38,031 at around the same time, the scrip was trading 13.5 per cent up at Rs 59.7 at around 10.40 am (IST).