We are taking all remedial measures to protect the interests of our stakeholders: Kapil Wadhawan, Chairman
Kapil Wadhawan, chairman and managing director of DHFL feels that the CARE’s re-rating of company’s long term debt is an irrational decision. He said that they are committed towards all their financial responsibilities. CARE Ratings yesterday revised some of the company’s long-term ratings. We are taking all remedial measures to protect the interests of our stakeholders with transparent communication at every stage and we continue to service all our obligations since September 2018, said Wadhawan.
“Though current cash and liquid investments are sufficient to bridge the negative mismatches for next two to three months, any acceleration of debt obligations by lenders and/or any higher than the anticipated withdrawal of deposits may put further stress on the liquidity profile of the company,” Care Ratings had said.
Wadhawan expressing concern over CARE’s re-rating, “Over the last few months, DHFL has accelerated the process of realigning the ownership and management to bring in a broad based professional ownership with the aim of enhancing stakeholders’ confidence.