This issue may be flagged as an agenda item for their boards, especially their risk-management subcommittees, since the indictment is a matter with a bearing on lender-borrower relations.
Senior executives of banks said they were keeping a close eye on unfolding events. Prima facie there is no cause for worry. The present exposures, loans and debt, are to projects that have clear cash flows and are backed by assets.
Risk-management departments of lenders will hold discussions on the matter. It was too early to say when lenders would start talks with the group.
Referring to lenders' credit, brokerage IIFL Securities said the group's gross debt was ₹2.4 trillion ($29 billion) and net debt stood at ₹1.8 trillion ($22 billion) as of FY24.
This story is from the November 23, 2024 edition of Business Standard.
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This story is from the November 23, 2024 edition of Business Standard.
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