Gautam Adani, India's richest man has seen his personal wealth shrink by billions in less than a week
India's richest man has seen his personal wealth shrink by billions in less than a week.
After a two-year investigation the report accuses the companies of stock manipulation and accounting fraud.It says the family-led businesses and their shell companies lend money to each other to launder it and cook their books. The Adani Group released a 413-page rebuttal saying this was a"calculated attack on India" and warned of legal action against Hindenburg.In response, Hindenburg said the Adani Group"predictably tried to lead the focus away from substantive issues and instead stoked a nationalist narrative".
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gautam Adani called on India’s top tycoons to shore up $2.4bn stock sale\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Gautam Adani Is No Longer Asia's Richest Man—or Even India'sThe Indian tycoon's fortune slipped below Mukesh Ambani's following a report that accused Adani Group of fraud.
Read more »
Who is Gautam Adani?India’s richest man avoids the limelight
Read more »
What next for Gautam Adani’s embattled empire?A scrapped $2.5bn share offering is the first victim of a short-seller’s attack
Read more »
Adani stock losses hit $100bn after company calls off share sale\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
India stocks/Adani: recurring scandals weaken recurring returns\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »