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  • Category: Miscellaneous

    "Is another biggest Non Performing Asset going to hit headlines?"

    Mr. Subrahmanya Swamy, Member of Parliament from BJP warned that Gautam Adani may be a prospective defaulter to the banks. He warned that Mr. Adani be made accountable or a public interest litigation will be filed by him in the court. According to Bloomberg data, Adani Group owes Rs 47609.43 crores to the banks. The Adani Group has clarified that they are repaying promptly the loans taken from the banks. Since the allegation came from the ruling party member, the government should investigate the allegation and take preventive measures so that another NPA does not hit the banks. It seems there are many more companies owing crores of money to the banks and are defaulting in making repayments. Mr. Subrahmanya Swamy said that he will file a PIL if prompt action is not taken. Hope the government will wake up to the situation.
  • #628925
    Whether it is true or not, based on the present day situation this should be taken seriously by the government and enquiry should be conducted to know the facts. If there is nothing wrong, it will be good. It will send a signal to other defaulters that government is serious in these issues. If there is something fishy it will be good that government is able to stop another big scam in the country and they can take a corrective action with respect to the problem. so anyway I feel the government should take some action on this issue. Mr Subrahmanya Swamy, Member of Parliament from BJP need not go to court if the government initiates the action. So far these 4 years there were no corruption charges against the ministers of the government and people know that Adani group is close to PM. So if the government goes for an enquiry people will appreciate the action of the government and it will be a positive point for them in the next elections.
    drrao
    always confident

  • #628949
    There are reports of a fall in the share value of the Adani groups after this statement from Subramanya Swamy. Just last month I read that Adani group would be investing 35,000 crores in UP over a period of 5 years. I hope this does not become true because, it would have a ripple effect in the share market that is still struggling under losses from the PNB scam. Just this statement from Mr.Swamy is estimated to have reduce the market value of the Adani group by around 9000 crores!

  • #628952
    I think we should not see every Industrialist with the sore eye. There are good businessman who have taken loans and are honouring the payments. Now this news has come, the bankers who have lend the amount would start pressing for early payments of loans and thus no rich person would afford to pay the loans immediately. Even in the case of Nirav Modi, he accused the PNB bank for defaming him and closed all the possible sources, otherwise he would have repaid the loans. Same would happen with Adani as Subrmanyam Swamy wont keep quiet on such matters.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease


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