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02-02-2023, 05:41 PM
https://www.businesstimes.com.sg/interna...ing-uproar
Adani debate gets rejected in Indian parliament, causing uproar
INDIA’S parliament was adjourned for several hours after pandemonium broke out when the upper house chair rejected opposition lawmakers’ demand for a debate on tycoon Gautam Adani’s tussle with a US short- seller.
The opposition had formally asked Jagdeep Dhankhar, the chair of the upper house of parliament, to suspend regular business on Thursday (Feb 2). They wanted to discuss public sector investments in “companies losing market value, endangering the hard-earned savings” of millions of Indians.
Dhankhar declined the request, saying their notification didn’t meet the requirements of the legislature. Opposition lawmakers in the lower house then shouted slogans demanding a government response on the issue, resulting in pandemonium and the adjournment of the chamber until 2 pm.
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https://www.businesstimes.com.sg/compani...securities
Citigroup’s wealth unit halts margin loans on Adani securities
CITIGROUP’S wealth arm has stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian tycoon’s finances following allegations of fraud by short seller Hindenburg Research.
The US lender’s move to restrict lending comes after a similar change at Credit Suisse Group, as Adani’s beleaguered empire becomes further engulfed in crisis.
“In recent days, we have seen a dramatic price drop of Adani issued securities,” Citigroup said in an internal memo seen by Bloomberg News. “Stock and bond prices have plummeted following the negative news around the group’s financial health.”
Adani debate gets rejected in Indian parliament, causing uproar
INDIA’S parliament was adjourned for several hours after pandemonium broke out when the upper house chair rejected opposition lawmakers’ demand for a debate on tycoon Gautam Adani’s tussle with a US short- seller.
The opposition had formally asked Jagdeep Dhankhar, the chair of the upper house of parliament, to suspend regular business on Thursday (Feb 2). They wanted to discuss public sector investments in “companies losing market value, endangering the hard-earned savings” of millions of Indians.
Dhankhar declined the request, saying their notification didn’t meet the requirements of the legislature. Opposition lawmakers in the lower house then shouted slogans demanding a government response on the issue, resulting in pandemonium and the adjournment of the chamber until 2 pm.
------------
https://www.businesstimes.com.sg/compani...securities
Citigroup’s wealth unit halts margin loans on Adani securities
CITIGROUP’S wealth arm has stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian tycoon’s finances following allegations of fraud by short seller Hindenburg Research.
The US lender’s move to restrict lending comes after a similar change at Credit Suisse Group, as Adani’s beleaguered empire becomes further engulfed in crisis.
“In recent days, we have seen a dramatic price drop of Adani issued securities,” Citigroup said in an internal memo seen by Bloomberg News. “Stock and bond prices have plummeted following the negative news around the group’s financial health.”
