The bitter battle between the Adani Group and Hindenburg Research is heating up. In a rebuttal to Hindenburg’s claim that Indian tycoon Gautam Adani has overseen the “largest con in corporate history,” the company took on a dramatic tone, calling the New York-based research outfit the “Madoffs of Manhattan.” The activist short-seller’s report, Adani said, was a “calculated attack on India” and its “growth story and ambition.”
Never mind that Hindenburg’s founder Nathan Anderson had worked with Harry Markopolos, the analyst who uncovered Bernie Madoff’s Ponzi scheme that robbed investors of as much as $65 billion. If anything, that puts Anderson in an anti-Madoff camp. Even as Hindenburg responded swiftly to Adani’s rebuttal, saying it failed to answer “62 of our 88 questions,” it is nonetheless worth pondering what the short seller might focus on next to win over in
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.