According to a report by the investor Hindenburg Research, the richest Indian businessman until recently, Gautam Adani, found himself in need of explanation. In addition to analysts and creditors, this also occupies street artists in Mumbai.
(Photo: AP)
Frankfurt The German financial regulator Bafin is concerned about the turbulence at the Indian company conglomerate Adani. “Bafin keeps an eye on developments and takes them into account as part of its ongoing supervision,” a spokesman for the authority told Handelsblatt.
Adani says it works in Germany with Deutsche Bank and Siemens Bank, among others. According to financial circles, other German institutes also maintain business relationships with the network of companies.
Overall, the involvement of the German banking sector in Adani is not worth mentioning, said several people familiar with the topic. Smaller banks, however, were threatened with painful losses if the company conglomerate got into trouble.
The ECB banking supervisor, which declined to comment on the issue, is also closely monitoring the situation at Adani financial circles. Inspectors from the ECB and Bafin are in close contact with the institutions affected by the turbulence at Adani and are gathering detailed information.
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