’s tussle with a US short seller and the impact of the resulting stock rout on millions of small investors, according to two people with knowledge of the matter.
The party has sent a formal letter to the chair of the upper house of parliament asking for suspension of regular business on Thursday. It wants to discuss public sector investments in “companies losing market value endangering the hard-earned savings” of millions of Indians, the people said, asking not to be identified as the matter was not public.This is an indication that Mr Adani’s woes could become a political headache for Prime Minister Narendra Modi, as he looks at a third term in office in elections due next year.
The group’s bonds also plunged to distressed levels, with banks either demanding more collateral for loans or scrutinising the firms’ debt value to lend against. BLOOMBERG
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