Australian regulator reviewing short-seller report on India’s Adani group

SYDNEY (Reuters) -Australia’s corporate regulator is reviewing a short-seller report that accused India’s Adani Group of improper use of offshore tax havens to determine whether regulatory action is required, according to a spokesperson.

Hindenburg Research last week flagged concerns about the conglomerate, that included its high debt levels, triggering a $65 billion rout in the group’s stocks.

“ASIC will review the allegations against Adani and determine whether further inquiries are warranted,” a spokesperson for the regulator told Reuters on Wednesday.