Adani Group says evaluating taking action against Hindenburg Research
The Adani Group is exploring legal action against US-based Hindenburg Research that recently accused the ports-to-power conglomerate of stock manipulation and accounting fraud.
“We are evaluating the relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg Research,” Adani Group’s legal head, Jatin Jalundhwala, said in an exchange filing on Thursday.
The move came a day after shares in the conglomerate’s companies lost about Rs 97,000 crore in market value following the release of the US investment research firm’s report accusing billionaire Gautam Adani’s group of pulling “the largest con in corporate history”.
