Cancellation of Gujarat chief minister Narendra Modi’s address from the Wharton India Economic Forum has apparently prompted Ahmedabad headquartered Adani group to cancel sponsorship of the event. Sources close to the company confirmed that sponsorship has been withdrawn from the event.

The student-organized event is scheduled on March 23.

Earlier, a spokesperson of Adani group had in a statement stated that “Mr Adani had conveyed his inability to join Wharton India Economic Forum long back (almost a fortnight ago) as he has other pressing commitments.”

The Adani group officials vehemently denied that Gautam Adani’s “inability to attend the event” cannot be linked with Wharton’s decision of removing Modi as a speaker invited to deliver a keynote address via videoconference because Gautam Adani had conveyed his decision prior to the controversy.

However, subsequent withdrawal from sponsoring the prestigious event has led to strengthen the view that Modi’s unceremonious removal due to protest has triggered Gujarat-based conglomerate to withdraw from funding the event as one of the main sponsors.

Gautam Adani led Adani group has business interests in port, logistics, energy, edible oil and infrastructure and the group is known for proximity to the current dispensation and chief minister Modi.