Hindenburg report alleged fraud by its firms, Adani Group says ‘attack on India’

The Adani Group on Sunday equated the allegations against its companies by the New York-based Hindenburg Research in a report last week to a “calculated attack on India”, its institutions and the India “growth story”.

In a 413-page response to the 106-page Hindenburg Research report, which accused it of “brazen stock manipulation and accounting fraud”, the Adani Group said, “This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India.”