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BIZARRE: 15 | Mind Blowing Facts

Jo Johnson resigns as director of firm linked to Adani allegations

Former UK PM’s brother quits board of Elara Capital days after it was accused of using funds to manipulate share prices

The Guardian - UK

Explained: How Gautam Adani v/s Hindenburg saga has unfolded so far

NEW DELHI: When one of mightiest conglomerates of a country calls off its fully subscribed follow on public offer (FPO), stating that it would be "morally incorrect", it is sure to spook investors.

The Times of India

Boris Johnson's younger brother just resigned from an Adani-linked investment bank after a $100 billion stock rout amid claims of a shady offshore account

"I have consistently received assurances from Elara Capital that it is compliant with its legal obligations and in good standing with regulatory bodies."

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

SBI has $2.6 billion of loans to Gautam Adani

MUMBAI: State Bank of India, the country’s largest financier, has given loans of as much as $2.6 billion to companies in the Adani conglomerate, or about half of what is allowed under the rules, according to a person familiar with the matter.

The Times of India

How Asia's ex-richest man lost nearly $50 billion in just over a week

Indian businessman Gautam Adani was a few billion dollars shy of Elon Musk. But he tumbled down the billionaires' list after a U.S. firm accused the Adani Group of pulling off an epic con.

WEKU

Share debacle a rare setback for Indian tycoon Adani

India's Gautam Adani was Asia's richest man when the U.S. short-selling firm Hindenburg Research put out a report last week alleging his businesses have engaged in fraud and stock price manipulation

The Independent UK

India opposition MPs seek Adani probe as group losses top $100bn

Opposition MPs call for parliamentary investigation after US-based short seller accuses Adani Group of fraud.

Al Jazeera

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Adani Enterprises calls off €2.2 billion share sale, citing 'market volatility'

The Adani Group conglomerate has seen tens of billions of euros wiped off its market value since a short-seller's report accused it of pulling "the largest con in corporate history" last week. It has now cancelled a €2.2 billion ($2.5 billion) share sale meant to help reduce debt levels. Billionaire…

France 24

Adani losses top $100bn after fraud claims

MUMBAI: The business empire of under-fire Indian tycoon Gautam Adani has lost more than $100 billion in value over the past week as shares in several firms plunged again on Thursday, a day after the group cancelled a multi-billion-dollar public offering.

Bangkok Post

Why has the Adani Group shed US$90bn in value and what do short sellers have to gain?

As Gautam Adani drops down the world’s rich list, here’s what we know about Hindenburg Research’s accusations and what they mean for the Indian conglomerate

The Guardian - AU

Voice working group says Dutton committed to ‘further talks’ – as it happened

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The Guardian - AU

Adani scraps $2.5B share sale after fraud claims hit stock

Embattled Indian billionaire Gautam Adani has called off his flagship company’s sale of $2.5 billion shares

The Independent UK

Adani abandons $2.5 billion share sale in big setback to Indian tycoon

Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a U.S. short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

Reuters

Exclusive-Indian market regulator examining Adani share rout, source says

India's market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday.

Reuters

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The Times of India

'Going ahead not morally correct': Adani Enterprises calls off Rs 20,000 crore FPO, to return money to investors

NEW DELHI: Billionaire Gautam Adani-led group's flagship firm Adani Enterprises on Wednesday decided to scrap its follow-on public offer (FPO), a day after it was fully subscribed.

Newslaundry

Adani scraps FPO as group stocks plummet. What's happening?

By now, you might have heard about the tanking shares of the Adani firms. And how Gautam Adani, who was recently the second richest man in the world, has now dropped to the 15th position in the Forbes’ list of the world’s wealthiest. All over a week.

The Independent UK

What is Hindenburg Research, firm accusing Adani of fraud?

Hindenburg Research is a financial research firm with an explosive name and a track record of sending the stock prices of its targets tumbling

Reuters

Indian regulator looking into $86 billion Adani share wipeout

India's market regulator is examining a rout in the shares of billionaire Gautam Adani's companies, a source with direct knowledge told Reuters, as the losses triggered by a scathing U.S. short-seller report ballooned on Wednesday to $86 billion.

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The Times of India

Gautam Adani stock meltdown hits $92 billion as collateral worries grow

MUMBAI: The crisis of confidence plaguing Gautam Adani has taken a sudden turn for the worse, with a record 28% plunge in his flagship company’s stock raising questions over the extra collateral he needs to cover loans.

The Times of India

Gautam Adani stock slump worsens as key share sale fails to lift mood

MUMBAI: The selloff in Adani Group’s stocks intensified on Wednesday, as the completion of a closely watched share sale by the Indian conglomerate’s flagship firm failed to offset wider concerns arising from Hindenburg Research’s fraud allegations.

The Guardian - AU

Morning Mail: Saudis to sponsor Australia’s World Cup, bail prisoner numbers soar, Adani fortune slides

Saudi Arabia’s tourist board to sponsor women’s tournament in Australia; unsentenced people in jail rises 120% in decade; Walter Sofronoff to lead ACT police probe

Fortune

Who is Gautam Adani? Asia's richest man is losing billions, fast

A history of financial fraud accusations may be catching up to India's biggest industrialist.

The Guardian - AU

Gautam Adani falls out of world top 10 rich list as his companies’ shares slide

Abu Dhabi fund’s $400m investment in Indian group fails to stop fall in value after fraud allegations

The Times of India

Adani to set up AI lab in Tel Aviv, develop real estate in Haifa

HAIFA: Indian tycoon Gautam Adani's ports-to-energy conglomerate will set up an artificial intelligence lab in Tel Aviv as it looks to leverage on a $1.2 billion Haifa port deal to make more investments in Israel.

The Independent UK

Adani $2.5B share sale pushes through amid fraud claims

The closely watched $2.5 billion share sale launched by Asia’s richest man, Gautam Adani, has been fully subscribed, bucking expectations after a turbulent week in which the conglomerate’s shares plunged in a tussle with a U.S. short-seller

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