In a cryptic post targeting India, the US-based short seller Hindenburg Research, best known in India for its explosive report on the Adani Group, on Saturday morning made announcement for another possible major revelation. The social med♑ia post has triggered widespread speculation as the tweet on social media platform X read, “Something big soon India.”
About Hindenburg Research
Founded in 2017, US-based Hindenburg Research's reputation is based on its extensive investigations invol𓄧ving major corporations and exposing major corporate fraud. The firm has been named after the infamous 1937 Hindenburg disaster. From Nikola and Clover Health to Block Inc, Kandi, and Lordstown Motors- in the last 7 years, several giant corporations have dealt with Hinden𝓰burg's reports on fraudulent activities and other internal discrepancies.
The modus operandi of the organization's investigative operations include met🍌iculous inspection of public records, internal corporate documents, and interviews with company employees to understand the internal scenario of the organization.
Hindenburg Research: Adani Group 2023
The US-based firm's 2023 report on Adani Group grabbed extreme attention as the report accused the huge corp🧸oration, spearheaded by billionaire Gautam Adani, of orchestrating "the largest con in 🐽corporate history."
The report published right ahead of Adani Enterprises’ planned share sale, led to a massive sell-off, wiping out approximately 86 billion USD in market capitalisation and stock losses of more than $30 billion. The major development also has a significant bearing on the sudd✱en decline in the group's overseas-listed bonds.
Hindenburg Research: Sebi's allegation
In a new development,the Securities and Exchange Board of India (Sebi) in June this year, alleged that Hindenburg hadℱ shared an advance copy of its Adani report two months ahead of its public release which enabᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚled substantial profits through strategic trading.
However, dismissing the allegation, Hindenburg termed it "nonsense" and claimed that the move was a planned and fabricated attempt to𝕴 silence those who expose corruption and fraud by powerful individuals in India.
