From the SMH:
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.
…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.
It comes as an Indian opposition party demanded the Reserve Bank of India intervene and question the “improper” loan, which it says is unjustified and “does not appear to be above board”.
Adani told the exchange operator that the parties had signed a Memorandum of Understanding, where the State Bank of India “has agreed in principle to consider extending financial assistance of an amount up to $US1b for development of Carmichael coal mine”.
That is hardly a loan, perhaps Comrade Campbell can cough it up.
