Adani allegations put a dent in India’s image – Asia Times

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“In a room where people unanimously maintain a conspiracy of silence, one word of truth sounds like a pistol shot.” – Nobel laureate Czeslaw Milosz (1911-2004)

On January 24, while the rest of India was busy preparing for Republic Day (January 26), a report by US-based short-seller firm Hindenburg Research shocked the nation. In the report, Hindenburg alleged that a man who was at that time the world’s third-richest, Gautam Adani, was pulling the largest con in corporate history.

The firm alleged that the Adani Group had been involved in brazen stock manipulation, money-laundering, and accounting fraud for decades. The report also highlighted that the stock valuations of seven listed companies of the group were 85% overvalued. 



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