The allegations made by short seller Hindenburg Research against Adani Group company are absolutely ‘absurd’. The investigating agency of the US government has said this after its investigation and has given a clean chit to Adani Group. This news has come from Bloomberg.
‘Hindenberg’s allegations were not found true in the investigation’
A senior US official said that the US government has found in its investigation that the allegations of corporate fraud against Gautam Adani of Hindenburg Research have not been found true.
An American agency official said that the report of America’s Hindenburg Research, which had cleared the market value of Adani Group companies of $ 100 billion earlier this year, was that of International Development Finance Corp. Or was in front of DFC, which conducted an investigation regarding the group.
A DFC official, speaking on condition of anonymity, told Bloomberg that the DFC was satisfied that the short seller’s allegations that the Adani Group was committing the largest fraud in corporate history were justified by Adani Ports & Co. Has not been found suitable for Special Economic Zone. Adani Ports & SEZ is the subsidiary leading the project in Sri Lanka.
Why is Sri Lanka project special?
The US agency will also continue to monitor the Indian company to ensure that the US government does not inadvertently support financial irregularities or any misconduct, the official said, noting that the US treats infrastructure projects differently from China.
The aggressiveness with which China is working on infrastructure projects all over the world, especially the Belt and Road Project of President Xi Jinping, America was looking for an answer to these efforts of China for many years, then Sri Lanka Port. The project was started.
Strong rise in shares of Adani Group
After this news, there is a strong rise in the shares of Adani Group, the market cap of Adani Group shares reached Rs 12,87,660 crore in intraday. Market cap has increased by Rs 92,119 crore in intraday.
