Asia's richest man hits back at 'con' allegations
But on Thursday, Adani Group said it was evaluating "remedial and punitive action" against Hindenburg Research in the US and India."The volatility in Indian stock markets created by the report is of great concern and has led to unwanted anguish for Indian citizens," said the group head of Adani's legal team, Jatin Jalundhwala.
On Thursday, Hindenburg responded to Adani's comments, saying the firm had not addressed "a single substantive issue we had raised". The group's flagship firm, Adani Enterprises, is scheduled to begin selling its shares to the public on Friday.Opposition politicians who have long alleged that Mr Adani has benefitted because of his proximity to Indian Prime Minister Narendra Modi have been quick to react to the report.
Another popular South Indian politician, Mr KT Ramarao, called on India's investigative agencies and market regulator to open a probe into the Adani Group's operations."The Security and Exchange Board of India [which regulates listed companies in India] will act only if there is a specific complaint sent to it.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adani: short-seller reinforces concerns about group’s opacity\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t
Read more »
Adani shares fall after Hindenburg Research bets against conglomerate\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
Read more »
Adani shares fall after Hindenburg Research bets against conglomerate\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
Read more »
Adani to launch key share sale in face of fraud allegations\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
India’s Richest Man Accused of Pulling the ‘Largest Con in Corporate History’A two-year investigation by a short seller claims Adani Group engaged in accounting fraud worth billions of dollars.
Read more »
Canadian Oil Exports To Asia Hit One-Year High | OilPrice.comExports of heavy Canadian crude oil to Asian refiners are expected to jump to the highest in a year as unplanned refinery shutdowns in the United States are stifling demand for Canada’s crude in some North American refineries.
Read more »