Adani Group Companies Fall after Hindenburg Report
What is Hindenberg Research?
Hindenburg Research is an investment research firm. Its headquarter is based in New York City. It was founded by Nathan Anderson in 2017. This firm through its websites generates public reports that mainly allege corporate fraud and malfeasance. Only 9 employees are working in this firm.
Nathan Anderson
Website-hindenburgresearch.com
They have produced their investigation reports on many companies like
1.Nikola
3.Kandi
They prepare their investigation on any company in months or years then they come out with their reports in public through their website.
Hindenberg report on Adani Group
Recently in January 2023, they have come out with documents revealing that Adani Group companies have done stock manipulation and accounting fraud scheme over years. As soon as the reports were published on their official website, the share price of all Adani Group Companies experienced a sharp decline since then.
Allegations by Hindenburg Research firm On Adani Group
They have come out with complete details and have attacked their other family members who are in the business/part of the Adani Group.
- According to them the 7 Listed Companies of Adani Group are 85%+ Overvalued.
2. In the past, members of the Adani group have Breached financial Covenants and Obligations.
3. The Adani Group is Largely Controlled by family members.
4. The Adani group has reportedly faced Corruption allegations and money laundering.
5. Adani’s brother had been arrested on custom tax evasion allegations, forging documents, and Illegal Imports.
6. Adani’s brother-in-law Samir varroa was a Ringleader of the Diamond trading scam in the past.
7. Adani’s Elder brother was also implicated in the Diamond and power equipment scam.
To know more about Gautam Adani click on –>https://www.moneynstocks.com/gautam-adani-family-loss-hindenburg-report/
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