It is quite true as it is often said downfalls are found to happen in life. Sudden fame and money is not permanent, things can change anytime, and for Gautam Adani is quite true.

Within a week the Adani Stocks persisting, erased $100 billion in market value.

At one moment he rose to be one of the richest man in the world and suddenly the tables have turned for him.

In the last five session the Adani Stocks has been under pressure, and even today the Adani Group Stocks extended their decline after calling off it's Rs 20,000 crore FPO last night.

Though Gautam Adani's has surprised many.

Global bankers such as Citigroup and Credit Suisse also has stopped accepting securities from the company as collateral for margin loans, most Adani Groups Stocks were today locked in their respective lower circuit limits.

The shares of Adani Enterprises, NSE-20.00%, whose Rs 20,000 crore-FPO was withdrawn late last night, tumbled 14% to Rs 1,82.05

Four Stocks from billionaire Gautam Adani's belt hit their respective 10% lower circuit limits.

Adani Transmission NSE -10.00% tumbled to Rs 1,557.25.

Adani Ports NSE -7.91% Rs 441.85 and Adani Green Energy NSE -10.00% 1,038.05

On the other hand Adani's new acquisition, NDTV NSE -4.99%, ACC NSE 0.13% was marginally lower at Rs 1,835.40 while Ambuja Cemente NSE 0.13% rose 2.5% to Rs 342.80

The oppositions parties in India are also demanding an investigating by a parliamentary panel or a Supreme Court appointed Committee under the CJI into the alleged "economic scam" in connection with allegations by a American short seller Hindenburg Research.

The Reserve Bank of India has also asked local banks for details of their exposure to the Adani group of companies, government and banking sources.

Source: Economic Times and The Mint