Adani crisis: Modi's party has 'nothing to hide', says India home minister

FILE PHOTO: Indian Prime Minister Narendra Modi gestures as chief of India's ruling Bharatiya Janata Party (BJP) Amit Shah looks on after releasing their party's election manifesto for the April/May general election, in New Delhi, India, April 8, 2019. REUTERS/Adnan Abidi

MUMBAI (Reuters) -Indian Prime Minister Narendra Modi's party has "nothing to hide or be afraid of" on the controversy over Adani group, the home minister said on Tuesday, responding to opposition allegations of favouring the conglomerate attacked by a U.S. short seller.

Led by billionaire Gautam Adani, the business house's seven listed companies bearing his name have together lost about $120 billion in market value since a Jan. 24 report by Hindenburg Research alleged improper use of offshore tax havens and stock manipulation. The Adani group has denied the allegations and threatened legal action against Hindenburg.