On September 13, 2024, the Adani Group issued a statement strongly denying allegations linked to Swiss bank accounts. The company refuted claims made by Hindenburg Research, which previously published a report accusing Adani Group of financial irregularities. Adani dismissed these accusations as “baseless” and reiterated that they comply with all legal and regulatory frameworks. The ongoing Adani-Hindenburg row has attracted significant media attention, with the Adani Group consistently countering these claims.
The controversy arose following allegations made by US-based short seller Hindenburg Research on social media platform X. Citing a report from Swiss media outlet Gotham City, Hindenburg claimed that Swiss authorities had frozen over $310 million across multiple Swiss bank accounts as part of an investigation into the Adani Group.
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