'Substantially impaired': The reason DHFL fears it may not survive

DHFL, one of India's largest housing finance companies, said it's 'undergoing substantial financial stress' and its ability to raise funds is 'substantially impaired'.

One of India's biggest housing finance companies, Dewan Housing Finance Corp Ltd (DHFL) , has warned that its financial situation was so grim that it may not survive.

The company said it was "undergoing substantial financial stress" and its ability to raise funds was "substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements." "These developments may raise a significant doubt on the ability of the company to continue as a going concern," it said in notes accompanying results for the fourth quarter ending March 31, signed by Chairman and Managing Director Kapil