NEW DELHI -- The crisis enveloping Indian conglomerate Adani Group spawned a political storm this week, with the opposition attempting to tie the government to the scandal and an unfazed Prime Minister Narendra Modi hitting back by claiming the trust of 1.4 billion people shields him against false accusations.
As the shares of Adani companies plunged following U.S. short-seller Hindenburg's allegations of "brazen stock manipulation and accounting fraud," India's opposition seized an opportunity to attack the government and Modi specifically over allegedly cozy ties with the group and its billionaire leader, Gautam Adani. Opposition lawmakers disrupted proceedings of both houses of Parliament on multiple days, insisting on a formal probe, while some opposition supporters took to the streets in protest.
