The US government concluded that short-seller Hindenburg Research’s allegations of corporate fraud against Gautam Adani weren’t applicable to his conglomerate’s ports subsidiary before extending his firm as much as Rs 46,090 crores for a container terminal in Sri Lanka, a senior US official said.
Allegations in a scathing report by US-based Hindenburg Research, which erased around Rs 8.34 lakh crore from the Adani Group’s market value earlier this year, were front and center as the International Development Finance Corp., or DFC, conducted a due diligence investigation of the conglomerate, the official, from the US agency, told Bloomberg.
