Adani row not to impact India story, says industry doyen K P Singh of DLF
The turmoil engulfing Gautam Adani's business empire following damning allegations by a US short seller, has not shaken the faith of global investors in India, real estate doyen K P Singh said rubbishing suggestions that banks would have lent to Adani group on instructions from higher-ups.
The punishing stock market sell-off Adani group companies have seen following the January 24 report of Hindenburg Research is a temporary blip concerning just one corporate group and hasn't harmed faith in India as an investment opportunity, he told PTI in an interview.
He, however, felt the Adani group needs to "beef up" capital and cut down debt to continue to remain on the high growth trajectory.
Known for his plain speaking, Singh cited how a Canadian firm had threatened to bring out a report when his retail estate firm DLF was bringing out an IPO one-and-a-half-decade back.
"We said push-off (to the Canadian firm)... do whatever you can ," he said, adding there are "blackmailers" who bring o