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Adani Group Rebuts Allegations of Not Paying Bank Loans, Says Not a Single NPA in 30 Yrs

Image for illustration. (Twitter/@AdaniOn-line)

In a press release on Twitter, the portstoenergy conglomerate mentioned it has constructed stellar infrastructure property within the nation adopting prudent company governance and capital administration processes which have constantly enhanced credit score high quality.

  • PTI New Delhi
  • Last Updated: January 16, 2021, 21:01 IST
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Adani Group on Saturday rebutted allegations of not paying financial institution loans saying it maintains an impeccable report of not a single NPA in three a long time of its existence. In a press release on Twitter, the ports-to-energy conglomerate mentioned it has constructed stellar infrastructure property within the nation adopting prudent company governance and capital administration processes which have constantly enhanced credit score high quality.

“The group maintains an impeccable record of not a single NPA in the three decades of its existence,” it mentioned responding to a tweet by BJP MP Subramanian Swamy. Swamy had on Friday tweeted on dues of Adani.

“Trapeze Artist Adani now owes Rs 4.5 lakh crores as NPA to banks. Correct me if I am wrong. Yet his wealth is doubling every two years since 2016. Why can’t he repay the banks? Maybe like with the six airports he has bought he might soon buy out all the banks he owes money,” he had mentioned in a Twitter submit. Adani on Saturday referred to as the quantity quoted within the tweet as “incorrect and fictitious number.”

“Aligned to our core philosophy of nation-building, the Adani Group has built stellar infrastructure assets mitigating critical demand gaps in India,” it mentioned. “Given our prudent corporate governance framework and capital management processes, our credit quality has consistently enhanced and the net debt to EBITDA ratio is less than 4, which demonstrates high credit ratings quality and almost all of our businesses enjoy a high credit rating from international and domestic rating agencies.”

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