THE ADANI GROUP underpins swathes of India’s economy. The family-controlled conglomerate’s businesses include airports, energy and natural resources, among other critical infrastructure. Its founder, Gautam Adani, is the world’s 14th richest man, worth some $72bn, according to Bloomberg. In terms of perceived ability to navigate India’s treacherous legal landscape and impenetrable red tape, he is in the same league as a fellow (slightly wealthier) billionaire, Mukesh Ambani.
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So when the share prices of the Adani Group’s six listed entities plunged on June 14th, heads spun. That day the Economic Times, an Indian newspaper, reported that the
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