Dewan Housing says may not be able to fulfill immediate debt payments

India’s debt-laden shadow bank Dewan Housing Finance Corp Ltd (DHFL) on Thursday said it may not be able to fulfill its debt obligations due in the near future.

This comes days after the company said its creditors would not have to take any haircut on principal payments under its resolution plan.

DHFL, the fourth-biggest housing finance company in India, has roughly 1 trillion rupees ($14.15 billion) of debt and is in the process of seeking lender approval on a restructuring designed to help it ride out a liquidity crunch and restart its lending business.