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Adani Group Objects to Subramanian Swamy’s Allegations of Adani’s Dues

Adani Group Objects to Subramanian Swamy’s Allegations of Adani’s Dues
Image Source - Google | Image by dnaindia

“The group maintains an impeccable record of not a single NPA in the three decades of its existence,” Adani Group said responding to a tweet by BJP MP Subramanian Swamy.

Adani Group on Saturday disavowed allegations of not settling with bank loans asserting it sustains an impeccable history of not a single NPA in three decades of its existence.

In a statement on Twitter, the ports-to-energy coalition asserted it has constructed starry infrastructure assets in the nation adopting careful corporate administration and capital management processes that have invariably improved credit quality.

“The group maintains an impeccable record of not a single NPA in the three decades of its existence,” it said 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 said in a Twitter post.

Adani on Saturday called the number quoted in 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 said. “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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Written by Ritik Gupta

His name is Ritik Gupta; currently pursuing law. He has always kept pride as his everything. He deems writing as not like any other hobby but a reflection of one’s intellectuality. He likes to research on the parasitic problems and then lay them down in such a means that can be of assistance to the society. He just not studies law but treats it a controversial weapon to defeat the wrong.

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