India’s Life Insurance Corporation (LIC) said on Monday it was reviewing the Adani Group’s response to scathing criticism by a U.S. short-seller and would hold talks with the group’s management within days.
Shares of companies in the group, led by Asia’s richest person Gautam Adani, have lost about $66 billion since Hindenburg Research flagged concerns early last week about the business house’s debt levels and the use of tax havens. Adani says it complies with all local laws and has made the necessary regulatory disclosures.
“Presently there is a situation that’s emerging and we are not sure what is the factual position…
