Mukesh Ambani is richest Asian as Adani tumbles out on Hindenburg row
New Delhi, Feb 01: Ports-to-energy tycoon Gautam Adani has tumbled on the world's top billionaire ranking and is no longer the richest Asian or Indian.
Rival business magnate Mukesh Ambani, who was richest Indian before Adani's eye popping gains in company stock prices catapulted him to top spot in April last year, has regained that position.
Adani, who ranked third richest in the world on the Forbes billionaire list just a week back, dropped to 15th position on Wednesday as his group stock continued to tumble in the aftermath of a damning report by a US short seller.
Ambani with USD 83.7 billion wealth is ranked No.9 on the list, according to Forbes website.
Adani, who has seen all of the USD 44 billion wealth gain he made last year vanish in one week, was ranked on 15th position with USD 75.1 billion wealth.
Since US-based short-seller Hindenburg in its January 24 report alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades", Adani companies have lost USD 90 billion market value.
Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. It called the Hindenburg report baseless and has threatened to sue the short seller.
The drop in rank comes a day after the Adani group managed to muster support from investors for a Rs 20,000 crore share sale for flagship firm Adani Enterprises despite the trading price of the stock being lower than the offer price.
Shares of Adani Enterprises plunged 30 per cent on Wednesday while Adani Power fell 5 per cent, Adani Total Gas slumped 10 per cent and Adani Ports and Special Economic Zone dropped 20 per cent.
Adani Total Gas, a joint venture with France's TotalEnergie, has been the biggest casualty of the short seller report, as it has lost about USD 27 billion in market capitalisation.
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3 Indians arrested in Canada for shooting outside home
Ottawa (PTI): Three Indian nationals have been arrested by Canadian police on an anti-extortion patrol and charged after bullets were fired at a home.
Harjot Singh (21), Taranveer Singh (19) and Dayajeet Singh Billing (21) face one count each of discharging a firearm, and all have been remanded in custody until Thursday, the Surrey Police Service (SPS) said in a statement on Monday.
The suspects were arrested by patrol officers after an early morning report of shots fired and a small fire outside a home in Surrey's Crescent Beach neighbourhood, the LakelandToday reported.
On February 1, 2026, the SPS members were patrolling in Surrey’s Crescent Beach neighbourhood when reports came in of shots being fired and a small fire outside a residence near Crescent Road and 132 Street.
The three accused were arrested by SPS officers a short time later, the statement said.
SPS’s Major Crime Section took over the investigation, and the three men have now been charged with Criminal Code offences, it said.
All three have been charged with one count each of discharging a firearm into a place contrary to section 244.2(1)(a) of the Criminal Code.
The investigation is ongoing, and additional charges may be forthcoming. All three have been remanded in custody until February 5, 2026.
The SPS has confirmed they are all foreign nationals and has engaged the Canada Border Services Agency, it said.
One of the suspects suffered injuries, including two black eyes, the media report said.
Surrey police Staff Sgt. Lindsey Houghton said on Monday that the suspect had refused to comply with instructions to get out of the ride-share vehicle and started to "actively resist."
"As we were trained, he was taken to the ground and safely handcuffed," said Houghton.
A second suspect with a black eye was also injured in the arrest after refusing to comply, Houghton said.
The arresting officers were part of Project Assurance, an initiative that patrols neighbourhoods that have been targeted by extortion violence.
Houghton said the Canada Border Services Agency (CBSA) is also involved because the men are foreign nationals, and the trio may face additional charges.
It's not clear if the men are in the country on tourist visas, a study permit, or a work permit, but Houghton said CBSA has started its own investigation into the men's status.
Surrey has seen a number of shootings at homes and businesses over the last several months, but there's been an escalation since the new year.
