Through the turmoil of the past eight months, including a flopped share sale and a massive erosion of stock-market wealth, two of the beleaguered tycoon Gautam Adani’s crucial relationships have held up surprisingly well.
One, his proximity to India’s government appears intact, even though opposition politicians have relentlessly attacked the businessman from Prime Minister Narendra Modi’s home state of Gujarat for currying favors, allegations that Adani has always denied — and Modi has just ignored.
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