Adani is a name we are hearing most across the globe. As his actions are believed to have the potential to make the Country's wealth evaporate the protests became intense.SBI, LIC, and other companies lost thousands of crores. But the Union government is behaving as if there is no need to consider the situation.
The market circles say that Adani behaved just like Satyam Ramalinga Raju. ED and CBI swung into action in Satyam row and Raju was sent to jail. Surprisingly, the Centre said that there is no need to link the government and it is personal to Adani.
What Happened Now..
Union Finance Minister Nirmala Sitharaman said that the downfall of Adani Group shares should be seen as an issue of the Adani company. This should not be seen as a matter of national dignity. Ups and downs are common in the Stock market, she said.
But the Adani Company said that the allegations made by the Hindenburg are a matter of nation. The company even said that it is a conspiracy to target the Integrity of the nation and the name of Prime Minister Narendra Modi.
But the Government is behaving in a contrasting way. Nirmala Sitharaman said that Market Regulatory body SEBI and RBI will be always ready to make the Equity Market stable.
The downfall in the Adani Group shares should be seen as an issue related to the company and it is not a matter of the country, she said. Nirmala Sitharaman also said that Banks and LICs did not invest in any company. She also said that the regulatory bodies are in a position to control the situation in Indian markets.