Adani's Market Plunge India's Sternest Test in Years

#adani #india #business #DebtPayments
Adani Group, one of India's largest conglomerates, is under pressure to prove its ability to meet its debt payments after a short-seller's report led to a 100 billion dollar loss in market value and billions wiped off founder Gautam Adani's personal wealth.

The allegations have also been a political embarrassment for Prime Minister Narendra Modi, who has close ties with Adani and has been pushing for big businesses to invest in India's infrastructure.

The government may now offer support to Adani, however, this could undermine the country's need for impartial scrutiny of big business.