To those who have long held suspicions about the source of funding behind the meteoric rise of Gautam Adani, an infrastructure tycoon from Indian Prime Minister Narendra Modi’s home state of Gujarat, Thursday’s Financial Times scoop based on a secret paper trail tells the story of a hijacking — a capture of weak regulatory institutions by a powerful business interest.

To those on the other side of India’s political divide, the latest twist in the corporate governance saga is nothing but early evidence of an “innate anti-India ecosystem in the West.” There’s only one way for the Modi government to end this debate, or at least be seen to be settling it before next year’s general elections: Order a joint probe by lawmakers who hold one or the other view.

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As the Adani Saga Gets Murkier, India’s Parliament Must Step In