NSE has sought clarification from Adani Enterprises with respect to recent news item captioned 'The Adani Group wants you to believe it has repaid all its loans against promoters'. The response from the company is awaited.

Share Market Live

NSE

The Ken today released a report today which created a trigger for selloff in all Adani group stocks with Adani Enterprises and Adani Ports being the biggest losers from this pack for the day.

The report states “Despite the Adani Group's claim of complete repayment of $2.15 billion in share-backed debt, regulatory filings show that banks have not released a significant portion of the promoters' shares held as collateral, indicating that the debt has not been fully paid off”.

“Over the last two months, the group has claimed to have repaid about $2.15 billion; it announced, on 12 March, that all of its margin-linked share-backed debt has been paid. However, regulatory filings examined by The Ken show that banks have not yet released a large portion of its promoters’ shares, as they should have if the loans had indeed been completely repaid. As per Indian laws, disclosures on the release of shares need to be filed with stock exchanges by lenders within two working days, and by promoters within seven working days. But neither the Adani Group nor the lenders have made these disclosures to stock exchanges.” the report by The Ken said.