Former BJP’s Rajya Sabha MP Subramanian Swamy on Thursday sensationally alleged that the Centre’s Narendra Modi government was ‘slowly disowning’ Gautam Adani in the wake of the financial scandal plaguing the latter. He asked the Modi government to take control of Adani’s commercial properties to auction them later.
“I believe Modi Govt is slowly disowning Adani as a hopeless case. Easy come easy goes,” Swamy tweeted implying that Modi would not hesitate in dumping close friend to avoid being tainted by the scandal.
I believe Modi Govt is slowly disowning Adani as a hopeless case. Easy come easy goes
— Subramanian Swamy (@Swamy39) February 2, 2023
Adani lost $24 billion in personal fortune on Thursday as the value of his company in the stock market continued to sharply plummet. Adani Enterprises’ shares lost their value by close to 30%. Adani, who was the world’s third richest man only a week ago, has now been dislodged to the 17th position on the global rich list. The controversial businessman may suffer more losses in days to come unless the bloodbath involving his company’s shares stops.
Swamy advised the Modi government to gain control of properties owned by Adani before auctioning them. “My advice to Modi: Nationalise the entire commercial properties of Adani & Co for “ negative” payment and later auction the properties.”
My advice to Modi: Nationalise the entire commercial properties of Adani & Co for “ negative” payment and later auction the properties.
— Subramanian Swamy (@Swamy39) February 2, 2023
In a huge blow to Adani, the Adani Group on Wednesday extraordinarily decided to call off its $2.4bn equity fundraising in the wake of more bloodbath in the stock market.
The downfall of the Adani Group was triggered byby an investigative report by US-based Hindenburg Research, which raised serious questions on the company’s debt levels and the use of tax havens in Mauritius, Caribbean Island and Singapore among others.
