Adani refutes Swamy’s tweet allegations, claims “impeccable” credit record

MUMBAI: The Adani NSE -1.25 % Group Sunday refuted allegations levelled by BJP politician Subramanian Swamy that it owes Rs 4.5 lakh crore as NPA to banks and claimed it has maintained an “impeccable record of not a single NPA in the three decades of its existence”.

“The Adani Group strongly objects to a factually incorrect tweet posted by Mr Subramanian Swamy…” said the group with interests in coal, infrastructure, electrical supply and airports in a tweet from its official Twitter handle.

“The tweet quotes and incorrect and fictitious number” it said. It added that its net debt to Ebitda ratio is less than 4 and claimed that all its businesses “enjoy high credit rating from domestic and international rating agencies”