US examined Hindenburg allegations before giving loan to Adani
Posted on December 5th, 2023

Courtesy The Economic Times

Synopsis

Adani-Hindenburg: The Hindenburg Research allegations of corporate fraud against Gautam Adani didn’t impact the US decision to grant up to $553 million for a Sri Lankan terminal. The US agency, DFC, found the accusations were not relevant to Adani’s specific project.

The US government concluded that short-seller Hindenburg Research’s allegations of corporate fraud against Indian billionaire Gautam Adani weren’t relevant before extending his conglomerate as much as $553 million for a container terminal in Sri Lanka, a senior US official said.

Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from the Adani Group’s market value earlier this year, were front and center as the International Development Finance Corp., or DFC, conducted a due diligence investigation of the conglomerate, an official from the US agency told Bloomberg.

The DFC was satisfied that the accusations in the short-seller’s repo ..

Read more at:
https://economictimes.indiatimes.com/news/company/corporate-trends/us-examined-hindenburg-allegations-before-giving-loan-to-adani/articleshow/105741857.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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