Hindenburg report: Australian securities regulator ASIC reviewing allegations against Adani Group1 min read . Updated: 01 Feb 2023, 12:39 PM IST
‘ASIC will review the allegations against Adani and determine whether further inquiries are warranted,’ said a spokesman.
Hindenburg Research's report accusing the Adani Group of improperly using offshore tax havens is being examined by the Australian Securities & Investments Commission (ASIC) to see whether any regulatory action is necessary, The Sydney Morning Herald reported. Last week, the short-seller based out of the US raised red flags regarding the Indian conglomerate, including its excessive debt levels, which led to a $65 billion decline in the value of the company's stock.
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