> Accusations against Adani test to Indian regulators' credibility: Analyst / 338E4CR
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Accusations against Adani test to Indian regulators' credibility: Analyst / 338E4CR
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Description
The crisis around Indian tycoon Gautam Adani deepened on February 2, with the total loss of value to his indebted empire topping $100 billion after it abruptly cancelled a stock sale. The going up in smoke of more than a third in value of the billionaire's conglomerate follows allegations of accounting fraud on January 24 by US short-seller Hindenburg Research. Australian analyst Tim Buckley believes this is a test of Indian regulators' credibility, but Mumbai resident Chetan Damani believes it is all a global conspiracy against Adani. IMAGES AND SOUNDBITES