Delhi: Adani Group companies have been accused of fraud in accounts, tax evasion and illegal money transfer. The renowned US-based research firm Hindenburg Research LLC has accused the Adani group of companies.
The Hindenburg Research Institute has investigated the activities of Adani Group companies for 2 years and made allegations. Complaints have been raised against the Adani Group that the company’s share price has increased due to its involvement in venture malpractices in the stock market. Shares of the Adani Group have been on a downward spiral after serious fraud allegations were leveled against the firm.
It has been reported that money has been diverted from listed Adani Group companies. It has also been reported that Adani is running fake companies in Caribbean countries, Mauritius and United Arab Emirates.
In this case, Gautam Adani, who was on the 3rd place in the list of the world’s richest people, has now been pushed to the 4th place.