India’s financial markets were rocked in January 2023 by the Hindenburg report Adani. In the report, the short-seller Hindenburg Research, which makes profits out of short selling, accused the Adani Group of accounting fraud, manipulating stock prices and inflating them through a network of offshore companies. This was done to hamper the image of a global conglomerate. Despite being fair and transparent in all its practices, the Group had to face such accusations and was dragged to court to prove its innocence.
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The Adani Group denies knowledge of any US investigation into bribery allegations.pptx
1. THE ADANI GROUP DENIES KNOWLEDGE
OF ANY US INVESTIGATION INTO BRIBERY
ALLEGATIONS
2. India's financial markets were
rocked in January 2023 by the
Hindenburg report Adani. In the
report, the short-seller
Hindenburg Research, which
makes profits out of short selling,
accused the Adani Group of
accounting fraud, manipulating
stock prices and inflating them
through a network of offshore
companies. This was done to
hamper the image of a global
conglomerate. Despite being fair
and transparent in all its
practices, the Group had to face
such accusations and was
dragged to court to prove its
innocence.
3. CALCULATED ATTACK TO
MANIPULATE THE
MARKET
The company called the accusations a
"calculated attack" to manipulate the stock
market and straightforwardly denied them. After
the scandal reached the Supreme Court of
India, which demanded a more robust
regulatory framework, Indian regulators began
looking into the matter. The Indian market
regulator, SEBI, has been given more time by the
court to finish its inquiry, although they are still
expecting information from outside sources
regarding some investigations. The Supreme
Court also asked SEBI to speed up the
investigations.
4. INVESTIGATIONS
UNAWARE OF ANY
After a report by Bloomberg
News stated that the United
States was looking into
bribery charges against the
Adani Group, with a focus on
the actions of its Founder,
Gautam Adani, the business
responded it was "not aware
of any investigations against
the company and its
chairman."
5. THE ADANI GROUP
CONSEQUENCES FOR
Hindenburg report Adani led to several
consequences for the Adani Group.
Besides a downfall in stocks, it also led
to a hampered brand image, reduced
investor trust and a decline in the
company's total market value. Even
though the Adani Group vehemently
refuted the accusations, they became
a topic of political discussion and had
several rumours going on around
them.
