spot_imgspot_img
spot_img

Our loans to Adani Group are secure: JK Bank

Date:

Srinagar, Feb 3: Jammu and Kashmir Bank, which has an exposure of nearly Rs 250 crore in the Adani Group, on Friday said the bank investors have nothing to worry as its loans to the embattled business group are secured.

“Our loans to Adani Group are secured against the assets of the projects that were financed by JK Bank,” JK Bank Deputy General Manager Nishikant Sharma told PTI.

Sharma said JK Bank had given a loan of Rs 400 crore to Adani Group to finance two thermal power projects – one in Maharashtra and one in Mudra, Gujarat.

“When we financed the two projects 10 years ago, our exposure was Rs 400 crore, which has now come to Rs 240 crore to Rs 250 crore. The payments are regular and both the power projects are operational with power purchase agreements in place. The bank has the first charge on their sale. Not a single penny is overdue from the Adani account,” he added.–(PTI)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular

spot_imgspot_img

Subscribe

More like this
Related

Union Minister Shri Piyush Goyal Addresses Traders’ Conclave – 2025 in Srinagar

Union Minister of Commerce and Industry, Shri Piyush Goyal,...

SIA Files Chargesheet in Cross-Border Narco-Terror Case

02 Pakistan-Based Terrorists Among 11 ChargesheetedThe State Investigation Agency...

PSAJK Urges Early School Timings To Combat Heatwave: “Run Classes From 6 Am To 11 Am Instead of Extending Break”

“Every Teaching Day Matters, Let’s Not Compromise Students’ Future”:...

Police Head-Constable Dies After Being Hit by Tipper in Lethpora

Fazil MirPulwama, July 5 : A police head-constable lost...