We have posted the link bellowed of the article that Hindenburg Research website has published.
History of Hindenburg Research report on adani :-
Hindenburg Research, a US-based short seller, published a report on January 24, 2023, titled “Adani Group: How the World’s 3rd Richest Man is Pulling the Largest Con in Corporate History”. The report made several allegations against the Adani Group, including:
- Stock manipulation and inflation
- Accounting fraud and forgery
- Money laundering and tax evasion
- Corruption and bribery
The report claimed that Adani Group’s meteoric rise was fueled by a web of shell companies, offshore accounts, and fraudulent activities. It also alleged that the group’s founder, Gautam Adani, had a history of unethical business practices.
The Adani Group responded to the report, calling it “baseless” and “malicious”. They denied all allegations and threatened legal action against Hindenburg Research.
The report led to a significant decline in Adani Group’s stock prices, with some companies losing up to 50% of their value. The incident sparked a wider debate about corporate governance, transparency, and accountability in India.
Subsequent developments:
- Adani Group published a 413-page response, refuting Hindenburg’s allegations
- Indian regulatory bodies (SEBI, RBI) launched investigations into the allegations
- Adani Group’s auditor, Grant Thornton, resigned
- Some international investors expressed concerns and sold their stakes in Adani companies
The situation remains ongoing, with investigations and legal proceedings still in progress.
Disclaimer :- All the facts & the figure presented in the article are taken from internet and all the opinion presented in the article are authors personal opinion and this is not at all an investment suggestion. Before any buying and selling in the stock, please check with your investment advisor.
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