Asia's richest man hits back at 'con' allegations
But on Thursday, Adani Group said it was evaluating "remedial and punitive action" against Hindenburg Research in the US and India."The volatility in Indian stock markets created by the report is of great concern and has led to unwanted anguish for Indian citizens," said the group head of Adani's legal team, Jatin Jalundhwala.
On Thursday, Hindenburg responded to Adani's comments, saying the firm had not addressed "a single substantive issue we had raised". The group's flagship firm, Adani Enterprises, is scheduled to begin selling its shares to the public on Friday.Opposition politicians who have long alleged that Mr Adani has benefitted because of his proximity to Indian Prime Minister Narendra Modi have been quick to react to the report.
Another popular South Indian politician, Mr KT Ramarao, called on India's investigative agencies and market regulator to open a probe into the Adani Group's operations."The Security and Exchange Board of India [which regulates listed companies in India] will act only if there is a specific complaint sent to it.
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