Topic: Gautam Adani

Fraud cannot be obfuscated by nationalism or a bloated response that ignores every key allegation we raised, Hindenburg Research said on Monday soon after Gautam Adani group likened the damaging allegations by the US institute to a “calculated attack” on India.

Normally a political party should not be reacting to a research report on an individual company or business group prepared by a hedge fund. But the forensic analysis by Hindenburg Research of the Adani Group demands a response from the Congress party. This is because the Adani Group is no ordinary conglomerate: it is closely identified with Prime Minister Narendra Modi since the time he was Chief Minister.

The Adani group lost nearly Rs 2 lakh crore in market capitalisation in early trading hours on Friday, taking the overall decline in its market capitalisation to over Rs 2.75 lakh crore since Tuesday’s closing.

Hindenburg Research said on Thursday that Adani hasn't addressed a single substantive issue they raised in their report.

Prannoy Roy and Radhika Roy, founders and promoters of channel New Delhi Television (NDTV), have resigned as directors on the board of NDTV’s promoter group RRPR Holding Private Limited(RRPRH) amid the Adani Group’s open offer to acquire India’s leading news channel.

The Supreme Court Monday dismissed a plea by the Kerala government challenging the handover of the management of the Thiruvananthapuram International Airport to Adani Enterprises Limited (AEL).