On February 13, Adani Group, during a market crash following a short-seller report, declared that each of its portfolio firms' balance sheets was very healthy, that it had good corporate governance, and that its assets were secure.
Jaya Thakur also questioned the decision of the State Bank of India (SBI) and the Life Insurance Corporation (LIC) to invest in Adani shares at allegedly inflated prices.
GV Sanjay Reddy said that before Gautam Adani approached, the company was talking to other investors who had agreed to deal with the company, but they had many conditions. "Deal with Adani was very simple and straightforward," he said.