BENGALURU: Adani Group said on Thursday (Jan 26) that it is evaluating 'remedial and punitive action' under United States and Indian laws against short-seller Hindenburg Research
, which in a report accused the conglomerate of improper use of offshore tax havens.
In a statement to Indian exchanges, Adani Group's head of legal, Jatin Jalundhwala, called the report by the US research group"maliciously mischievous" and"unresearched". The report had"adversely affected the Adani Group, shareholders and investors" Jalundhwala said, adding that"the volatility in Indian stock markets created by the report is of great concern".In a statement posted on its Twitter account, Hindenburg said"regarding the company's threats of legal action, to be clear, we would welcome it".
Founded by Nathan Anderson in 2017, Hindenburg says that it looks for"man-made disasters" in companies, such as accounting irregularities and mismanagement.
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India's Adani Group says evaluating action against Hindenburg ResearchBENGALURU : Adani Group said on Thursday it is evaluating 'remedial and punitive action' under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.Shares in seven listed group companies of Adani lost $10.73 billio
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Hindenburg shorts India's Adani Group, cites debt, accounting concernsBENGALURU, India: Hindenburg Research said on Wednesday (Jan 25) it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels. The group, which is led by Gautam Adani, the world's t
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Who is behind Hindenburg, the company that is shorting Adani?NEW YORK: Short-seller Hindenburg Research disclosed on Wednesday (Jan 25) short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. T
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Hindenburg shorts India's Adani citing debt, accounting concerns; shares plungeBENGALURU - Hindenburg Research said it held short positions in India's Adani Group, accusing the conglomerate of improper use of offshore tax havens and flagging concerns about high debt that eroded $11 billion (S$14 billion) in investor wealth on Wednesday (Jan 25). The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the...
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‘Largest con in corporate history’: US short-seller goes after Gautam Adani’s sprawling empireWith a net worth of US$113.4 billion, the Indian industrialist is richer than Bill Gates and Warren Buffett. Read more at straitstimes.com.
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China formally arrests nine over Covid-19 protests, rights group saysThe charge of 'picking quarrels and provoking trouble' carries a possible five-year prison sentence. Read more at straitstimes.com.
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