A senior Kotak Mahindra Bank official has said that the loan given to Adani Group is in line with the bank’s lending principles and the loan amount is also nominal. Paritosh Kashyap, president and head of wholesale banking at the bank, said the troubles facing the Adani group are more related to capital markets and valuation issues than credit issues. He said, ‘The loan we have given to the group is less. We do business with every corporate company in the country and the loans we give are as per our norms and balance sheet size.
strong balance sheet
He said that the companies operating in the group are in reasonable profit and have strong profitability and strong balance sheet. In a January report by New York-based firm Hindenburg Research, the group led by billionaire businessman Gautam Adani was openly accused of indulging in stock manipulation and accounting fraud. After this allegation of the company, there was a big fall in the shares of the listed companies of the group. Adani Group denied these allegations.
Source: navbharattimes.indiatimes.com
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