[ad_1]
LIC Adani Debt Exposure: Government insurance company LIC (LIC) manages huge funds. She invests some part of this in the stock market, and also gives some part in the form of loan. LIC also gets a good return from this. However, for some time, there is a dispute over the share and loan portfolio of LIC. Especially there has been a lot of discussion about LIC’s investment in the shares of Adani Group Companies and the loans given to some of these companies. According to the latest information, there has been a decline in LIC loans given to Adani’s companies during the last three months.
Finance Minister gave this information
Finance Minister Nirmala Sitharaman informed about its figures in Parliament on Monday. Giving a written answer to a question, he said in the Lok Sabha, LIC’s debt exposure in Adani group companies came down to Rs 6,183 crore on March 05. This exposure was Rs 6,347 crore as on 31 December 2022.
The Finance Minister said, the Life Insurance Corporation of India has informed that its debt exposure to Adani group companies as on December 31, 2022 and March 05, 2023 was Rs 6,347.32 crore and Rs 6,182.64 crore respectively.
Loans to these companies of Adani
According to the Finance Minister’s reply, the Adani Group’s Adani Ports and Special Economic Zone (Adani Ports and SEZ) has the highest exposure of Rs 5,388.60 crore. Similarly, Rs 266 crore near Adani Power Mundra, Rs 81.60 crore near Adani Power Maharashtra Ltd Phase-1 (Adani Power Maharashtra Ltd – Phase I), Adani Power Maharashtra Ltd Phase-3 (Adani Power Maharashtra Ltd – Phase III) has an exposure of Rs 254.87 crore, Raigarh Energy Generation Limited has an exposure of Rs 45 crore and Raipur Energen Limited has an exposure of Rs 145.67 crore.
Public sector banks gave loans like this
Sitharaman also informed that five government general insurance companies have not given any loan to Adani group companies. Regarding loans from public sector banks, he said, the public sector banks have informed that loans are disbursed after assessing the profit-making potential of the projects, assessing the cash flow potential, considering the risks involved and ensuring adequate security. Are. Loan installments will be repaid from the revenue generated from the projects and not from the market capitalization of the companies.
read this also: Here also this Tata company on top, Forbes gave it a place in the prestigious list
[ad_2]
Source link