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Adani affair is a warning to New Delhi to clean up its act too

Indian government must address exposure risks and resist cronyism

| India
The Adani Group can be expected to fall back on state-owned banks for more support.   © Sipa/AP

Ritesh Kumar Singh is founder and chief executive of policy research and advisory company Indonomics Consulting in New Delhi.

The huge sell-off in the stocks and bonds of Adani Group companies in the wake of allegations of accounting fraud and share-price manipulation by American short seller Hindenburg Research should serve as a wake-up call for both Indian regulators and the country's corporate leaders.

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