Adani Group is a multi-billion dollar Indian conglomerate with a presence in various industries, including ports, logistics, agribusiness, energy, and defense. The company has faced criticism and controversy in recent years due to its large-scale projects, such as the Adani Carmichael coal mine in Australia, which have raised environmental and social concerns. However, the company's recent troubles took a sharp turn with the publication of a report by short-selling firm Hindenburg Research. In January 2023, Hindenburg released a report alleging financial misconduct and overstated profits at Adani Group, including its subsidiaries. The report claimed that the company's revenue and profits had been inflated and that the management had engaged in corruption and tax evasion. The publication of the Hindenburg report caused a sharp drop in Adani's stock price and led to investigations by regulatory authorities. The case has drawn attention to the potential impact of ne
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