Mumbai: Shares of Dewan Housing Finance Corp Ltd (DHFL) crashed 30 per cent after reports that the troubled mortgage lender may find it difficult to remain a going concern, but the company said the reports were based on selective quotes from a regulatory filing. It added that the company’s plans to remain solvent by selling assets were not fully disclosed in such reports. “Some media have used select portions of our statement and created panic/ confusion especially regarding the statement on the going concern,” said DHFL in a statement. “We urge that the statement be read in entirety, so that the news is factual and not sensationalised.”The DHFL scrip fell 29 per cent to Rs 48.50 on the BSE on Monday, eroding nearly Rs 700 crore from the company’s M-cap. The share has lost more than 90 per cent from its peak value of Rs 690, when investors were reluctant to lend to the firm facing an asset-liability mismatch.“We are closely working with the stakeholders and creditors to ensure that there is a comprehensive resolution, without any haircut to the lenders, as has been speculated by few sections of the media,” said the statement from DHFL.Investors have been on the edge over the ability of a few non-banking finance companies (NBFCs) to survive the ongoing credit squeeze in the industry. This follows the meltdown of IL&FS last year, which caused mutual funds — the prime lenders to NBFCs — to turn off the tap fearing defaults.Since then, DHFL has been selling and securitising assets to meet payment obligations. It has sold assets worth Rs 41,800 crore since September. Although it was behind in payments at least once, it managed to pay up within the grace period.“While the sectoral stress is well known for months, DHFL has withstood intense pressure and continues to remain strong and solvent,” the company said.DHFL reported a net loss of Rs 2,223 crore in the fourth quarter of FY19 due to higher provisions and a collapse in disbursement of new loans. In the year-ago period, its profit stood at Rs 134 crore. The company has made additional provisioning of Rs 3,280 crore for the fourth quarter of FY19. For the full financial year 2018-19, net loss stood at Rs 1,036 crore, against a profit of Rs 1,240 crore in FY18.Monday’s share price crash began with some reports blowing up the regulatory language that companies and auditors use to highlight issues in their accounts. While the company said it was pursuing all efforts to remain relevant, some reports gave importance to the qualification that its ability to continue as a going concern could be in doubt because of the impaired assets.“The company’s ability to raise funds has been substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements,” DHFL had said in its filing on Saturday. “These developments may raise a significant doubt on the ability of the company to continue as a going concern,” it said, adding that “despite these adverse conditions, the company has repaid amounts aggregating approximately Rs 41,800 crore since September 1, 2018, part of which related to prepayment of its liabilities. The company is taking active steps to monetise its assets and is in discussions with multiple Indian banks and international financial institutions to sell off its retail as well as wholesale portfolio.”DHFL is in the process of restructuring its debts with lenders and an inter-creditor agreement (ICA) is being drafted to set new terms for the loans.