India 🔥

You all probably know how the case was handled Hindeburg vs Adani. It has cast a negative light on India and the biggest companies and billionaires there...In January 2023, Hindenburg published a report on the alleged improper use of tax havens and stock manipulation by the Adani Group, triggering a $150 billion sell-off in the conglomerate's shares, even though the company denied wrongdoing.

Hindeburg made a small profit on the case (about $4m), but ultimately the giants were not affected (they were not proven to have done anything illegal).

However, Saturday showed how intertwined everything is and how untouchable some people are. US-based Hindenburg Research said on Saturday that the head of India's market regulator, Madhabi Puri Buch, held investments in offshore funds also used by the Adani Group.

Hindenburg's report drew fresh criticism from India's opposition political parties, which have called for a parliamentary inquiry. Citing whistleblower documents, Hindenburg said Buch and her husband held shares in an offshore fund in which associates of Vinod Adani, brother of Adani Group chairman Gautam Adani, invested substantial amounts of money. This might explain why the whole investigation essentially collapsed.

Opinions? Thinking of investing in India?