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Hindenburg allegations against Adani puts investor trust in India in doubt

If Hindenburg is right, then a network of shadowy operators has placed itself right in the middle of those conflicting impulses

Gautam Adani

Gautam Adani

Andy Mukherjee | Bloomberg
The big stock-market scams in India over the past 30 years exploited vulnerabilities in the local banking system. However, the country’s growing integration with the global economy and international capital means that preparations for the next big scandal may well be under way in an overseas financial center like London or Singapore, rather than in Mumbai. 
Or that’s what Hindenburg Research seems to be insinuating in its report on Indian tycoon Gautam Adani, whom it accuses of “pulling the largest con in corporate history.” Released Tuesday evening in the US, it was met with a terse dismissal. The timing of

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First Published: Jan 26 2023 | 1:12 PM IST

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