Court should check ‘truthfulness’ of Hindenburg report on Adani: Government

BENGALURU/NEW DELHI (Reuters) -The Indian government has told the country’s top court that the “truthfulness” of allegations made by a U.S. short seller against the Adani Group should be examined, according to a government filing seen by Reuters.

The Supreme Court is yet to issue an order on setting up a panel proposed to examine investor protection mechanisms in the wake of Hindenburg Research’s Jan. 24 report.

Seven listed firms of the Adani Group have shed some $125 billion in market value since the report which alleged improper use of tax havens and stock manipulation by the ports-to-energy conglomerate.