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Subramanian Swamy alleges Adani group ‘biggest NPA’, Adani stocks tumble 7% after tweet

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BJP MP Subramanian Swamy on Tuesday dropped a bad loan bombshell on industrialist Gautam Adani, calling him the “biggest NPA trapeze artiste in PSUs”, but the group clarified that it had diligently and regularly serviced all its debt.

In a widely commented and shared tweet, Swamy said Adani, believed to be close to Prime Minister Narendra Modi, should be made accountable or he would file a Public Interest Litigation in the court for recovery of bank loans from him.

“The biggest NPA trapeze artiste in PSUs is Gautam Adani. It is time he is made accountable or a PIL is inevitable,” Swamy tweeted.

Stock of Adani Transmission plunged 7.38 per cent to Rs 180.50. A press release by the group stated that the transmission and port businesses have been rated ‘investment grade’ by international credit rating agencies.

A press release by the group stated that the transmission and port businesses have been rated ‘investment grade’ by international credit rating agencies.

“Adani Group has created world class assets and aggregate net asset block of Indian operations stands at over Rs 110,000 crore. Aggregate net worth of the listed entities stands at over Rs 40,000 crore and aggregate EBITDA (earnings before interest, taxes, depreciation and amortisation) stands at Rs 24,000 crore,” the company statement said.

 

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