Fraud allegations and a market meltdown put billionaire tycoon Gautam Adani’s plans and India’s corporate governance in question
Embattled billionaire Gautam Adani said his ports-to-power conglomerate would examine its capital market plans after abruptly pulling his flagship firm’s $2.5bn domestic stock offering after fraud allegations made by short-seller Hindenburg Research.
“Once the market stabilises, we will review our capital market strategy,” the 60-year-old tycoon said in a recorded video address to investors released on Thursday. “This decision will not have any impact on our existing operations and future plans. We will continue to focus on timely execution and delivery of projects.”..
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