On the case of Adani, the Minister of Finance said: the FPOs were also withdrawn earlier, the image of the country, the situation was not affected.

Union Finance Minister Nirmala Sitharaman reacts to the Adani crisis as she speaks to the media after her post-budget interaction with stakeholders on Saturday. Adani Enterprises Ltd on Wednesday night abruptly decided to withdraw its FPO of Rs 20,000 crore. She said the withdrawal of Adani Enterprises’ FPO (Follow-On Public Offering) had no impact on the country’s macroeconomic fundamentals and reputation. On the withdrawal of FPOs, Union Finance Minister Nirmala Sitharaman said that how many times have FPOs failed to withdraw from this country and how many times has India’s image been tarnished due to this and how many times have FPO have not returned?

On the subject of the Adani controversy and corporate governance, Union Finance Minister N Sitharaman said regulators will therefore do their job. In fact, to keep the well-regulated market in a dominant position, SEBI is the authority and has the means to maintain that dominant position. It will be the regulators who will do their job. Before RBI made a statement, the banks, LIC came out and talked about their exposure (to the Adani group). The regulators, independent of the government, are left to do what is appropriate so that the market is well regulated.