Adani claims US investment firm’s fraud allegations are an ‘attack on India’

Conglomerate responds to Hindenburg Research report that claimed it was the ‘biggest con in corporate history’

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Adani Group has published a 413-page rebuttal of fraud allegations by Hindenburg Research, likening the US investment firm’s report to an attack on India amid mounting financial pressure on the coal conglomerate.

The lengthy response seeks to soothe investor concerns and stir nationalist fervour as Adani attempts to complete a US$2.5bn share sale, one of India’s largest ever fundraising campaigns, designed to finance capital expenditure and reduce debt.

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