Indian Prime Minister Narendra Modi's party has 'nothing to hide or be afraid of' on the controversy over Adani group, the home minister said on Tuesday, responding to opposition allegations of favouring the conglomerate attacked by a U.S. short seller.
He denied allegations of crony capitalism and suggested the opposition to go to court if they had proof.
The Adani crisis has stalled parliament, ignited street protests by the opposition, sparked off investigations by regulators and weighed on the broader markets in a challenge to Modi ahead of a string of state elections this year and general elections next year. Rivals including the main opposition Congress party accuse Modi and the BJP of longstanding ties to the apples-to-airports Adani group, going back nearly two decades when Modi was chief minister of the western state of Gujarat. Gautam Adani and Shah also come from the same state.Without referring to Adani, Modi told parliament last week that the "blessings of 1.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indian shares fall ahead of inflation data; Adani stocks slideIndian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group's market rout continued to create an overhang.
Read more »
Adani saga spotlight shifts to Indian regulator, shares drop yet againIndia's market regulator is set to brief the federal government on its investigation into Adani group's shelved share sale, two sources said, thrusting the watchdog into the limelight in a week when its laws also face scrutiny by the nation's top court.
Read more »
Fraud claims targeting Gautam Adani provoke nationalist backlash in IndiaHis supporters have characterized the allegations as an onslaught against India as a whole.
Read more »
India's largest insurer LIC says it may review stake in Adani after management meetingIndia's largest insurer LIC said it 'might' review its stake in Adani Group after meeting with the management.
Read more »
India's Adani tries to calm investors as market rout continuesIndia's Adani Group sought to reassure investors on Monday as a rout in its shares continued, saying its business plans were fully-funded, its cashflows strong and it remained confident of delivering attractive returns to shareholders.
Read more »
India watchdog probes short-seller's allegations about Adani, market activityIndia's markets regulator on Monday told the country's top court it was looking into the allegations made against the Adani Group by U.S.-based short-seller Hindenburg Research in a critical report, a court filing seen by Reuters showed.
Read more »