Adani Group says Hindenburg fraud claim 'calculated attack on India' - BBC News

Last week the Indian firm owned by Asia's richest man had more than $50bn wiped off its market value.

10 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, ReutersImage caption, Indian billionaire Gautam AdaniBy Peter HoskinsBusiness reporterThe company owned by Asia's richest man Gautam Adani has issued a detailed rebuttal of allegations of wrongdoing by short seller Hindenburg Research.

In a document, which runs to more than 400 pages, Adani Group says the report is a "calculated attack on India".

Later on Sunday, Hindenburg said "Adani failed to specifically answer 62 of our 88 questions" detailed in its report.

Adani Group, an Indian conglomerate, had more than $50bn (£40.4bn) wiped off its stock market value last week.

It also said that it had complied with all local laws and had made the necessary regulatory disclosures.

https://www.bbc.co.uk/news/business-64448880?at_medium=RSS&at_campaign=KARANGA


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