Adani Enterprises Ltd on Thursday clarified that it hasn't secured $3-billion credit from sovereign wealth fund and that it "appears to be a market rumour".
"We would like to clarify that the said news item appears to be a market rumour and hence it would be inappropriate on our part to comment on it," said the flagship arm of the embattled Adani Group in a stock exchange filing.
Reuters on Wednesday reported, quoting sources, that Adani Group has told creditors it has secured a $3-billion loan from a sovereign wealth fund as it seeks to ease debt concerns after a short-seller attack.
The credit line from the sovereign wealth fund could be increased to $5 billion, the report added. The identity of the sovereign wealth fund was not disclosed.
Seven listed Adani Group companies have lost more than $140 billion in market value combined since a Jan. 24 report by Hindenburg Research alleged stock manipulation and improper use of tax havens, and flagged concerns over debt levels.
Adani, led by billionaire Gautam Adani, has rejected the allegations and denied any wrongdoing.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after the damning Hindenburg report.
The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to “protect Indian investors against volatility of the kind which has been witnessed in the recent past”.
The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the SEBI chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
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