Probe in all directions, many interrogated: SP
Suspicious death of Shiroor seer
Udupi, July 21: SP Lakshman Nimbargi said that investigation was being conducted in all directions on the suspicious death of Lakshmivara Tirtha Swamiji of Shiroor Mutt and many were being interrogated related to the case.
Speaking to media at his office here on Saturday, the SP said that the swamiji who was admitted to the Gandhi hospital on July 17 following food poisoning, was shifted to KMC hospital of Manipal on July 18. But the doctors declared his death on July 19 at 8.30 am as he was not responded to the treatment. But there was no clarity on how he died and what food he had taken, he added.
When asked about the missing of some documents and things in the Shiroor Moola Mutt, the SP said that there was no such possibility after providing security to the mutt. If such thing happened, they would investigate it thoroughly. Shiroor Moola Mutt has CCTV cameras and the police teams would check the footage in detail. The police would also investigate on financial transaction between the swamiji and others, he said declining to answer the question on links with the underworld.
Investigation from many teams
As the incident happened in the Hiriyadka police station limit, Brahmavar circle inspector Shrikant was the investigating officer and he was being guided by Karkala DySP Belliyappa. Apart from this, many teams of expert and senior police officers were formed to investigate the case in all directions, the SP said.
Shiroor Mutt in Udupi and Moola Mutt near Hiriyadka were given police security. But the regular religious rituals in the mutt would not be affected by the security. The entry of people was restricted to some places in the mutt as there was a chance of missing the evidences and in view of the visit of senior police officers. Till the investigation is over, those places would be under police control. Investigation is being conducted even in the Shiroor mutt at Udupi, he said.
On phone record of Shiroor swamiji, the SP said that they have not yet checked the record. If needed, it would be taken into account and checked. There were lot of rumours about the death of the swamiji. But the police have taken it very carefully as it was a challenging one, he said and exuded confidence of cracking the case as early as possible.
FSL report
It would take minimum two weeks to get autopsy report. Cattle trader Hussainabba death autopsy report also came after two weeks. But it would take minimum six weeks to get FSL(Forensic Sicence Laboratory) report as each and every organ in the body will have to be tested. Till then, it was not possible to ascertain the cause of the death exactly, the SP said.
No one arrested
The police have not yet arrested anyone related to the case. But he would not disclose anything now as it would mislead the investigation. The police have been investigating the case as per the complaint lodged by the brother of the swamiji, the SP said.
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Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
