Rahul Gandhi asks PM to explain ties with Adani

Alleging that government policies are “tailor-made” to favour the Adani group, former Congress chief Rahul Gandhi on Tuesday asked Prime Minister Narendra Modi to explain his “relationship” with businessman Gautam Adani.

In the Lok Sabha, participating in the Motion of Thanks to the President for her Address to the joint sitting of Parliament, Mr. Gandhi said “magic” had happened after Mr. Modi became Prime Minister in 2014, with Mr. Adani seeing a meteoric rise from the 609th position in the global billionaire’s list to becoming the world’s second richest person.

In response, Minister Kiren Rijiju asked Mr. Gandhi not to make “wild allegations” without proof.

Hindenburg Research has done its homework on the Adani Group, said Aswath Damodaran, a renowned professor of finance at New York University.

But the New York-based investment research firm risks losing credibility if the Group manages to prove even just some trivial components of Hindenburg’s report as wrong, he said.