Adani dismisses PM Modi link as group's market losses hit $125 billion I Details

Billionaire tycoon Gautam Adani is battling the worst crisis of his corporate life with tens and billions of dollars of his fortune wiped out. Since the Hindenburg Research Report on January 24th, that accused Adani group of brazen stock manipulation and accounting fraud, 10 stocks of the group have lost nearly $125 billion in market capitalisation. Pressure is mounting on Gautam Adani to address concerns over his group's financial health. Meanwhile, reports say, Adani is in talks with creditors to prepay some loans backed by pledged shares, as some banks stopped accepting securities of the group as collateral.