Hindenburg verses Adani.

Hindenburg Investigation is a New York based entity which focuses on forensic financial research. It has decades of experience in the investment management sector, historically specialising in equities, credit, and derivatives analysis. While it employs fundamental analysis to help make financial decisions, it's most useful research comes from finding uncommon sources of information that are difficult to obtain.

Hindenburg Investigation report with the title, 'Adani Group: How the World's 3rd Richest Man is pulling the Largest Con in Corporate history' appeared on January 23 and kicked up a storm in corporate India. Meanwhile Adani group and its affiliated entities lost almost $12 billion within 48 hours of publishing of the report. Although Adani group tweeted that they are considering legal action against Hindenburg, the entity replied that they will be more than happy if Adani takes them to courts, as they have solid evidence against him and his conglomerate.

The report is based on two-years research and provides proof that the Indian conglomerate Adani Group, worth $218 billion, participated in blatant accounting fraud and stock manipulation over a long period of time. Adani has a net worth of about $120 billion, which he has increased by over $100 billion in the last three years primarily as a result of stock price growth in the group's seven most important publicly traded companies, which have increased by an average of 819% during that time.

Four significant government fraud investigations, totaling an estimated $17 billion in money laundering, theft of taxpayer cash, and corruption allegations, have previously focused on the Adani Group. Members of the Adani family are accused of working together to set up offshore shell companies in tax haven nations like Mauritius, the UAE, and the Caribbean Islands and fabricating import and export paperwork in an apparent effort to generate fictitious or fraudulent turnover.

Rajesh Adani, the younger brother of Gautam Adani, was charged by the Directorate of Revenue Intelligence (DRI) of being a key player in a 2004-2005 diamond trade import. Vinod Adani, the older brother of Gautam Adani, had a suspected role in overseeing a network of offshore businesses intended to enable fraud, he has frequently been at the focus of the government's investigations.

38 shell companies in Mauritius that Vinod Adani controls have been found. Other located organisations that Vinod Adani also covertly controls...