Tulsian told CNBC-TV18, "This type of denial came from Vijay Mallya also in case of Kingfisher a month back. So you cannot because we know their positions, the kind of information which has been coming in respect to Hindustan Construction (HCC) but they are not even able to make a payment of Rs 50000 kind of thing the suppliers payments have all been piled up for last 6 months or so. So it is a known fact that they are in a severe financial crunch and the worst part that they have lost their focus from their main business and that's the whole problem happening with the company that they have not been able to generate any cash flow from their main business also."
He further added, "The Lavasa seems to have gripped the whole company in this financial crunch and all sort of things. I think it's just a matter of time when the CDR is going to happen and generally that's the case that whenever it formally gets announced that the company is referring to CDR, the company which is referring the fall in that company's stocks and the banks which have the exposure they start getting corrected. We know that in this case Axis Bank is the larger player but that has already being correcting. So once HCC formally approaches for CDR it should settle at a bottom of Rs 15-16 where further fall is not likely. As of now I won't be taking a plunge in that stock even at the current level."
