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NEW DELHI: Adani Group chairman Gautam Adani has termed as “baseless” claims that his rise was due to Prime Minister Narendra Modi.
In an interview to a TV channel, Adani said that the fact both him and the prime minister hailed from Gujarat was the apparent reason for such claims.
“The fact of the matter is that my professional success is not because of any individual leader.”
The Adani issue rocked Parliament on Thursday, with opposition demanding a discussion.
The Congress has been alleging that the investments made by public sector LIC and SBI into the Adani group have been “forced” by the prime minister.
“Only an independent investigation will save LIC, SBI and other institutions forced by the Prime Minister to invest in the Adani Group,” On Friday, Congress MP Jairam ramesh said on Friday.
Shares in Adani’s flagship firm Adani Enterprises were repeatedly suspended on Friday as a rout triggered by allegations of accounting fraud deepened.
The shares fell 10 percent at the open, while Adani Power, Adani Green Energy, Adani Total Gas- in which French giant TotalEnergies has a 37.4 per cent stake- and Adani Transmission were also suspended when they hit their trading stops.
The conglomerate’s combined market capitalisation has plummeted by more than $100 billion since US short-seller Hindenburg Research — which makes money by betting on shares falling — released an explosive report last week.
Adani late Wednesday cancelled a $2.5-billion stock sale meant to help reduce debt levels — long a concern — restore confidence and broaden its shareholder base.
In an interview to a TV channel, Adani said that the fact both him and the prime minister hailed from Gujarat was the apparent reason for such claims.
“The fact of the matter is that my professional success is not because of any individual leader.”
The Adani issue rocked Parliament on Thursday, with opposition demanding a discussion.
The Congress has been alleging that the investments made by public sector LIC and SBI into the Adani group have been “forced” by the prime minister.
“Only an independent investigation will save LIC, SBI and other institutions forced by the Prime Minister to invest in the Adani Group,” On Friday, Congress MP Jairam ramesh said on Friday.
Shares in Adani’s flagship firm Adani Enterprises were repeatedly suspended on Friday as a rout triggered by allegations of accounting fraud deepened.
The shares fell 10 percent at the open, while Adani Power, Adani Green Energy, Adani Total Gas- in which French giant TotalEnergies has a 37.4 per cent stake- and Adani Transmission were also suspended when they hit their trading stops.
The conglomerate’s combined market capitalisation has plummeted by more than $100 billion since US short-seller Hindenburg Research — which makes money by betting on shares falling — released an explosive report last week.
Adani late Wednesday cancelled a $2.5-billion stock sale meant to help reduce debt levels — long a concern — restore confidence and broaden its shareholder base.
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