Trapeze Artist Adani now owes Rs 4.5 lakh crores as NPA to banks, Swamy had said in a tweet
The group maintains an impeccable record of not a single NPA in the three decades of its existence, said Adani Group
New Delhi: Dismissing allegations levelled by BJP MP Subramanian Swamy of not paying bank loans as “incorrect and fictitious,” Adani Group said on Saturday that it maintains an impeccable record of “not a single NPA (sic.)” in the last three decades of its existence. In a statement released on Twitter, the conglomerate said, “The group maintains an impeccable record of not a single NPA in the three decades of its existence.”
The tweets came as a retort to a tweet posted by Swamy on January 15 in which he had said, “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.”
“Aligned to our core philosophy of nation-building, the Adani Group has built stellar infrastructure assets mitigating critical demand gaps in India. 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,” said the group on Twitter.
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)