Home minister Amit Shah denied allegations of crony capitalism. Read more at straitstimes.com.
MUMBAI - Indian Prime Minister Narendra Modi’s party has “nothing to hide or be afraid of” on the controversy over Adani group, the home minister said on Tuesday, responding to opposition allegations of favouring the conglomerate attacked by a United States short seller.
“But in this, there is nothing for the BJP to hide and nothing to be afraid of,” Mr Shah added, referring to the ruling Bharatiya Janata Party . Rivals including the main opposition Congress party accuse Mr Modi and the BJP of longstanding ties to the apples-to-airports Adani group, going back nearly two decades to when Mr Modi was chief minister of the western state of Gujarat.Mr Modi’s immense popularity, however, appears intact for now, according to approval ratings.
Adani Enterprises, which pulled a US$2.5 billion share sale earlier in February after the stock rout, reported a profit of 8.2 billion rupees for the December quarter, compared with a loss of 116.3 million rupees a year before.
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