Dewan Housing Finance Corporation Ltd. (DHFL) has said that it has made payments of over Rs 30,000 crore towards interest and principal to its creditors since September, rebutting the unwarranted speculation over its debt repayment ability.
DHFL has been recently alleged by Cobrapost for syphoning off Rs 31,000 crore out of the total bank loans of Rs 97,000 crore through layers of shell companies.
DHFL said in a regulatory filing that, “Over the last one week there has been a lot of unwarranted speculations in the market about continuous weakening of DHFL’s credit profile as a servicer.”
“We would like to place on record that the slowdown in business activity in the industry has not had any adverse impact on DHFL‘s debt repayment ability or loan servicing and collections of the company,” it said.
The company said, it has made more than Rs 30,000 crore of principal and interest payments to its creditors including its fixed deposit holders since September 24, 2018.
“Please note that from a servicing standpoint, collection efficiency has remained over 99 per cent every month since September 2018,” it added.