Company says it has no link to Kakinada green ammonia project

NFCL told NSE it is unaware of the Rs 13,000 crore green ammonia unit in Kakinada mentioned in news reports. After secured creditor ACRE took over all company assets in 2023 and recovered Rs 1,885 crores, NFCL financials are classified as not a going concern. ACRE issued a No Due Certificate in July 2024. NFCL has no outstanding term loans or working capital debt. The current asset owners are running new projects independently.