Over the Adani Group Controversy....
Indian Prime Minister Narendra Modi's Bhartiya Janta Party has "nothing to hide", the home minister Amit Shah said, over the controversy of Adani group.
Gautam Adani the billionaire businessman seven listed companies lost about $120bn since January 24 in market value report by Hindenburg Research alleged not proper use of offshore tax havens and stock manipulation. However the Adani group denied the allegations and threatened for taking action against Hindenburg.
"Regarding this, there is nothing to hide for BJP and nothing to be afraid of," Shah said.
Nearly 4 percent shares of Adani Enterprises has fell in early trade. Earlier this month the company pulled about $2.5bn share sale after the stock rout, later in the day will declare quarterly results.
On Tuesday, India's Economic Times daily reported that Adani group executives had been holding negotiations from last week with Abu Dhabi's international holding company (IHC) for capital infusion into Adani Enterprises or other group entities.
However, Adani and IHC requests seeking comment did not immediately respond.
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