The U.S Attorney's Office in Brooklyn, New York, has sent inquiries in recent months to investors with large holdings in Adani Group, focused on what the Indian ports-to-power giant told them, Bloomberg News reported on Thursday.
The U.S. Securities and Exchange Commission also has a similar probe underway, Bloomberg reported, citing two people familiar with the matter.
The authorities are looking into the representations that Adani made to its American investors following short-seller Hindenburg's report, the Bloomberg report said.it held short positions in the group and accused the conglomerate of improper use of offshore tax havens. The short-seller also flagged concerns about high debt, eroding $11 billion in investor wealth.
The SEC said it does not comment on the existence or nonexistence of a possible investigation. The Eastern District of New York U.S. Attorney’s Office declined to comment on the report. Adani Group and the U.S. Attorney General's office did not immediately respond to requests for comment.
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