Government hasn't intervened in Adani's tussle with US short seller: Sanyal

By Tina Davis and Bibhudatta Pradhan

The administration of India Prime Minister Narendra Modi hasn’t intervened in the Adani Group’s tussle with a US short seller that caused a rout in the company’s shares, said Sanjeev Sanyal, an economic adviser to the premier. 
 

The “government has not intervened anywhere,” Sanyal, a member of prime minister’s economic advisory council, said in an interview in New York. “Nobody’s having to rescue anyone in our system.”

Exposures to Adani group companies from the State Bank of India, the country’s largest financier and the Life Insurance Corp., the country’s biggest life insurer, are very small,