Gautam Adani

India — and its fast-growing economy — has emerged as a big bet for global financial firms, even though recent troubles at billionaire Gautam Adani’s business empire have dented the allure

The Mundra Thermal Power Plant — and its debt, that appears designed to shield Adani Power from extraordinary writeoffs — exemplifies this balancing act, where a single asset writedown could have cascading ramifications

The apex court directed SEBI to submit a report in two months and also appointed a committee for strengthening the existing regulatory mechanism to protect investors from market volatility

"I want to tell Adani that his company is 'hurting' the country and is 'snatching the entire infrastructure of country," the former Congress president charged.

Addressing the party's 85th plenary session here, Gandhi accused the government of causing economic ruin by favouring a particular businessman, making a veiled attack on Prime Minister Narendra Modi over a controversy involving the business empire of industrialist Gautam Adani.

Adani, a first-generation entrepreneur, has lost over USD 70 billion in net worth and slipped to 25th rank on the world billionaire index from being Asia's richest and the world's third most wealthy businessman, in less than a month.

Taking pot-shots at PM Modi, the Congress MP released a five-minute long video on his Twitter handle and YouTube channel, describing how billionaire Gautam Adani has allegedly taken control of airports, ports, roads, defence, media, coal, and electricity businesses.

Its shares have lost more three quarters of their value since the Hindenburg report was published on January 24. It was the group’s most richly valued stock before that and also has relatively less liquidity.

Repaying and prepaying of borrowings, both by the conglomerates’ units and Adani family, have featured in the push to convince investors that the group does not face any solvency issues despite its market value being cut in half.

Commenting on Adani Enterprises strong Q3 results, Gautam Adani said the company's success is linked to "strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation".

The appointment marks the first major effort by Adani Group to defend itself in the wake of a January 24 report by Hindenburg that accused it of improper use of offshore tax havens and stock manipulation

The party's Delhi convener Gopal Rai demanded a joint parliamentary committee (JPC) probe into the matter.

Indian equities as a whole enjoyed a calm week in Mumbai, the country’s financial center, and have held largely steady since the Adani collapse

Adani Ports and Special Economic Zone, Adani Transmission Ltd and Adani Green Energy Ltd pledged shares to SBICAP Trustee Co, the firm, a unit of India's biggest state lender, State Bank of India, said in a filing to the BSE.

Banerjee's comments come in the wake of the Hindenburg Research report that made a slew of allegations of wrongdoing against the business conglomerate led by industrialist Gautam Adani, in which state-owned lender SBI and Life Insurance Corporation have exposure.

The company, part of a larger conglomerate led by billionaire Gautam Adani, has been hit by a market rout after U.S. short-seller Hindenburg Research on Jan. 24 alleged it had engaged in stock manipulation and used tax havens.

Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year. A portion of that loan is due March 9.

Prime Minister Narendra Modi's address comes a day after senior Congress leader Rahul Gandhi attacked the BJP-led Centre for allegedly giving undue favours to billionaire Gautam Adani

"While we estimate that the exposures are larger for public sector banks than for private sector banks, they are smaller than 1 per cent of total loans for most banks," it said.

That rise, as he portrayed it, wasn’t his alone: It was inseparable from the “growth story” of India itself.