Adani Group: CEO of Bank of Baroda said a big thing on Adani Group, said – and loan may be considered
New Delhi, 20 February. The news of relief has come for the Adani group which is going through difficult times. Public sector Bank of Baroda (BoB) has said that it is ready to give further loans to the Adani group amid huge upheaval in the company’s shares following a report by American financial research company Hindenburg.
BoB’s Chief Executive Officer (CEO) Sanjeev Chadha said this during an interview on Monday. He said that if the Adani group meets the bank’s underwriting standards, the bank will definitely consider giving more loans. He said that I am not worried about the ups and downs in the shares of Adani Group.
This statement of the CEO of Bank of Baroda has come at a time when a bridge loan of about $ 500 million is due on the Adani group next month, for which some banks are retreating for refinancing. Hindenburg has accused the Adani group of fraud, the biggest reason for banks backing out of refinancing. In such a situation, this statement of Bank of Baroda is going to give great relief to the group.
It is noteworthy that due to Hindenburg’s allegations, the shares of Adani Group’s assets and companies have fallen drastically in the last few days. However, the Adani group has termed Hindenburg’s research report and all the allegations as false.
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