Hindenburg to Adani: Can’t obfuscate fraud by nationalism

TIL Desk/Business/Mumbai/ Hindenburg Research has hit back at Adani group, saying ‘fraud cannot be obfuscated by nationalism or bloated response that ignores every key allegation’.

Hindenburg’s statement comes in response to Gautam Adani’s group likenening the damning allegations made by the short-seller to a ‘calculated attack’ on India, its institutions and growth story.

The Adani Group called Hindenburg’s allegations ‘nothing but a lie’. In a 413-page response, the Adani Group said the report was driven by ‘an ulterior motive’ to ‘create a false market’ to allow the United States firm to make financial gains.