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Adani quizzed by National Stock Exchange of India

‘Sweet deal for Adani’?

‘Indian conglomerate Adani has been questioned by the National Stock Exchange of India over claims that the State Bank of India has extended it a $US1 billion ($1.1 billion) credit line to fund its mega coal project in Queensland. Adani Australia chief executive Jeyakumar Janakaraj said earlier this week that the funding from the Indian government-owned bank was a vote of faith in its huge $16.5 billion coalmine in Queensland’s Galilee Basin. But the NSE on Tuesday asked the company to clarify “in detail” a news report saying the company was lining up the loan with the State Bank, and whether it was aware of any information that should be disclosed under the exchange’s listing laws.’ (The Sydney Morning Herald Business Day, 19.11.14)

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