Adani Group shares continues to be in highlight: Government slowly disowning Group alleges

Adani Group shares continues to be in highlight: Government slowly disowning Group alleges 

Lord Jo Johnson left a company named Elara Capital which is connected to Adani Group 


Subramanian Swamy, a former Rajya Sabha member for the BJP, made the astonishing claim on Thursday 2 February, 2023 that Narendra Modi administration at the Centre was slowly disowning Gautam Adani in the aftermath of the latter's financial issue. He requested that the Adani company's commercial properties be taken over by the Modi government for subsequent sale at auction. Adani, who was the third richest man in the world just a week ago, has dropped to the 17th spot on the list of the world’s richest people. 

On Thursday, Adani lost $24 billion in personal wealth as the stock market value of his company continued to fall dramatically. Shares of Adani Enterprises decreased in value by around 30%. Before placing Adani owned assets up for auction, Subramanian Swamy asked the PM Modi administration to take control of them. 

“I believe the Modi Govt is slowly disowning Adani as a hopeless case. Easy come easy goes.” - Swamy tweeted implying that Modi would not hesitate in dumping close friends to avoid being tainted by the scandal.”

An investigation report by US based Hindenburg Research, which highlighted major concerns about the company’s debt levels and its use of tax havens in Singapore, Mauritius, the Caribbean Island and other places, was the catalyst for the demise of the Adani Group. 

Former British PM Boris Johnson’s brother Lord Jo Johnson left a company named Elara Capital, a London based firm connected to the Adani Group after fraud allegations against it. 


“Heads are rolling in UK nota squeak from SEBI! Where is PM? Why run away from Parliament?” - Supriya Shrinate, Congress leader. 

congress leader

Sources: Click Here


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