The huge debt of Adani Group is still a neck-noose for the companies of the group. Questions are being raised regarding the repayment of the loan of Adani Enterprises, on which the National Stock Exchange has sought an ‘answer’ from the company.
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Industrialist Gautam Adani’s stars which went down the drain after the Hindenburg Research report came out, have not been able to shine since then. Questions are once again being raised on the claims made by Adani Group company Adani Enterprises regarding loan repayment. National Stock Exchange now on this matter (NSE) Has also asked the group to ‘answer’.
NSE has sought clarification from Adani Enterprises regarding the claim of loan payment. In a recent media report, questions were raised on the claims being made regarding loan repayment of Adani Group, on which NSE has asked the company to clarify. While the Bombay Stock Exchange (BSE) has also separately sought answers from the company on many issues.
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Questions raised in the report of ‘The Kane’
Many questions have been raised in a report by ‘The Cane’ regarding the loan repayment of the Adani group working in the port to energy sector. Several arguments rejecting the group’s claim have also been given in the report. It has also been asked whether the Adani Group has really repaid its $2.15 billion loan?
The Adani Group had earlier this month claimed that it had made complete repayment of share-backed loan of $2.15 billion. He has already completed this before the timeline of 31 March 2023. This claim of Adani Group has been denied in the report of ‘The Kane’.
Adani Group repaid half-incomplete loan
It has been said in the report that despite repaying the loan, a large part of Adani Group’s shares pledged with banks in the form of mortgage (collateral) have not yet been returned. Whereas generally banks release the shares immediately after the repayment of the loan.
Must Read: Why there is a furore in Adani’s shares, after Hindenburg this report created trouble
The report of ‘The Kane’ says that in fact the Adani group has not repaid the entire loan, but to avoid action and to reduce its debt burden, has made a partial payment, that is, has returned only half the loan.
Adani’s 10 shares declined
After this report came to the fore, on Tuesday, the share price of all the 10 companies listed in the stock market of Adani Group declined. Shares of Adani Enterprises have fallen more than 5 percent.
Earlier, in a report by short seller company Hindenburg Research, Adani Group had claimed to exaggerate the value of its shares and commit accounting fraud. Since then the condition of Adani Group is bad.
