{"id":564102,"date":"2023-03-21T10:45:09","date_gmt":"2023-03-21T05:15:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=564102"},"modified":"2023-03-21T11:27:25","modified_gmt":"2023-03-21T05:57:25","slug":"hindenburg-fallout-adani-suspends-work-on-rs-34900-cr-petchem-project","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hindenburg-fallout-adani-suspends-work-on-rs-34900-cr-petchem-project\/","title":{"rendered":"Hindenburg fallout: Adani suspends work on Rs 34,900 cr petchem project"},"content":{"rendered":"<p>Adani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller, sources said.<\/p>\n<p>The group&#8217;s flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.<\/p>\n<p>But after Hindenburg Research&#8217;s January 24 report alleging accounting fraud, stock manipulations and other corporate governance lapses chopped off about USD 140 billion from the market value of Gautam Adani&#8217;s empire,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller, sources said. The group&#8217;s flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat. But after Hindenburg Research&#8217;s January 24 report alleging accounting fraud, stock manipulations and other corporate governance lapses chopped off about USD 140 billion [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,211,144],"tags":[],"class_list":["post-564102","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=564102"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/564102\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=564102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=564102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=564102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}