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Adani Group responds to Hindenburg allegations in 412-page report amid stock rout
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The namesake conglomerate of India’s richest man, Gautam Adani, fired back at an American short seller, but the group’s 413-page response didn’t stop a slide in the shares and bonds of its companies on 30 January.
On 29 January, the energy and infrastructure group released a strongly worded document addressing the allegations of fraud and misconduct put forth last week by Hindenburg Research. The New York-based firm, which was founded by Nathan Anderson, alleged that stock manipulation and questionable business and accounting...
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