Adani’s billionaire brother starts to retreat as scrutiny builds

It’s been three months since a short seller in New York roiled Gautam Adani’s empire, wiping out almost $120 billion in market value, invigorating India’s opposition party and spurring the country’s top court to investigate.

Still, questions raised by Hindenburg Research linger. Chief among them: What’s the extent of Adani Group’s dealings with Gautam’s older brother, Vinod?

According to Hindenburg, Vinod Adani has played a pivotal part in perpetuating what it alleged is “the largest con in corporate history.” Adani Group, which hasn’t been charged with any crimes, has denied the accusations.