Mumbai January 26 2023: Adani Group said on Thursday it is evaluating “remedial and punitive action” under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.
Shares in seven listed group companies of Adani lost $10.73 billion in market capitalisation in India on Wednesday after Hindenburg released the report, which also said it held short positions in the conglomerate through its U.S.-traded bonds and non-Indian-traded derivative instruments. Adani’s U.S. bonds also fell.
