India's stock market crisis isn't just the Adani Group's problem — it's a political issue for Prime Minister Modi too

Tech Insider : Politics
Members of Congress party demand an investigation into allegation of fraud by Adani group according to Hindenberg investigation, alleged investment by LIC and SBI in Adani Group and protest against Narendra Modi government over the issue on February 6, 2023 in Kolkata, India.
Ties between Indian tycoon Gautam Adani and Prime Minister Narendra Modi are under scrutiny.

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The massive selloff in Adani shares eclipses those of other short-seller targets like Enron and Wirecard

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An activist of the youth wing of India's main opposition Congress party holds a placard featuring Gautam Adani, chairman of Adani Group, during a protest against what they say are investments by Life Insurance Corporation (LIC) and State Bank of India (SBI) in Adani Group, in New Delhi, India, February 6, 2023.
Gautam Adani's business empire has been under pressure ever since US short seller Hindenburg Research leveled allegations of alleged market m

Adani cut its UK audit bill in half by dumping a Big 4 firm for a much smaller rival, filings show as scrutiny of its safeguards deepens

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Gautam Adani sitting at a conference summit
Chairman and founder of the Adani Group Gautam Adani seen during the News18 Rising India Summit on February 25, 2019 in New Delhi, India.

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India's stock regulator tried to calm jittery investors fleeing the stock market — but even that's not helped Gautam Adani, whose companies' shares continue to take a beating

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Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023.
Indian tycoon Gautam Adani's business empire has been targeted by a short seller.

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Adani had a handful of auditors as young as 23 years old signing off on companies worth $100 billion, Hindenburg says

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Founder and chairman Of Adani Group, Gautam Adani.
Gautam Adani, founder and chairman of Adani Group.

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BlackRock has more than $100 million exposure to Adani's dollar debt, report says

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BlackRock has one of the biggest known exposures to Adani's dollar debt, per Bloomberg.

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Adani's crisis is casting a cloud over India — and it could benefit China, which is just reopening after 3 years of COVID isolation

Tech Insider : Politics
Indian Prime Minister Narendra Modi (R) with Chinese President Xi Jinping (L).
Indian Prime Minister Narendra Modi with Chinese President Xi Jinping.

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Gautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.

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Founder and chairman Of Adani Group, Gautam Adani.
Gautam Adani has lost $52 billion over six trading days after a collapse in his companies' share prices.

Ramesh Dave/Mint via Getty Images)

Gautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.

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Founder and chairman Of Adani Group, Gautam Adani.
Gautam Adani has lost $52 billion over six trading days after a collapse in his companies' share prices.

Ramesh Dave/Mint via Getty Images)

Legendary investor Mark Mobius said he shunned embattled Adani's share sale over debt concerns but he's still bullish on India

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mark mobius
Mark Mobius

REUTERS/Sukree Sukplang

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