Mayawati Says India's Image At Stake Due To Adani's Stock Rout

The Adani episode will have long term impact on the country's economy and it is "unfortunate" that the government is not taking people of the country into confidence on the issue, BSP supremo Mayawati said on Sunday.

The former Uttar Pradesh chief minister also asserted that India's image is at stake due to the issue.

"How can Adani episode by forgotten on Ravidas Jayanti as it is a new cause of concern. Instead of finding solution to such matters, government is making new promises ignoring the people. The image of India is at stake due to Adani issue and everyone is concerned but government is taking this issue very lightly. This is something to think about," Mayawati said in a statement issued here.

"Due to a businessman of the country who has established his ranking in the world, the economic world of India is desperate, disappointed and depressed. It is going to have a long term impact on the country's economy and common life. Yet like in other cases, in this issue also the government is not taking the people of the country into confidence through the House. It is sad," she said while slamming the government for "playing" with the trust of the people.

Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.

The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

The 10 listed Adani group firms have faced a combined erosion of over Rs 8.5 lakh crore in just six trading sessions. Adani Enterprises also had to withdraw a Rs 20,000 crore share sale.