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Adani Group to take legal action against Hindenburg Research

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ADANI Hindenburg Research Law Insider (1)

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Published on: 29 January 2023 at 23:58 IST

American investment research firm Short seller Hindenburg Research came out with a report and levelled a lot of allegations against the Adani group of malpractice on 24th of January 2023.

Adani Group in the statement said, “This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,”.

The said the Adani group manipulated the market and there has been accounting fraud. Adani group reacted on the report, saying the it is absolutely malicious and mischievous report. The Adani group may take legal action against the Hindenburg Research.