Adani Group reels after report from US based short-seller Hindenburg

NEW DELHI (Reuters) – Indian tycoon Gautam Adani’s conglomerate has been pummelled by a stock rout and come under increasing scrutiny after U.S. short-seller Hindenburg Research issued a damaging report.

Here is a timeline of the fallout:

JAN. 24

* Hindenburg accuses Adani Group of stock manipulation and improper use of offshore tax havens that obscure the extent of stock ownership of Adani family members in group firms. It also raises concerns about high debt and what it calls excessive valuations.