Adani lost 35 percent of his fortune after accusations of fraud on the eve of a large stock market operation.
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The business magnate now possesses a personal fortune of
Adani began to plummet on the stock market after the publication of a report by the US investment group
According to the two-year research report, based on interviews with former executives of the conglomerate and extensive documents, Adani added most of his fortune through stock price appreciation in the group's seven key companies, which increased an average of 819 percent in that period.
Adani's fortune made an impressive jump between 2019 and 2022, when it went from
Opposition political parties have demanded in the Indian Parliament an investigation led by a joint committee into the fraud allegations.
Meanwhile, the Indian government has avoided examining the matter amid accusations of Adani's close ties with Prime Minister
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