The Collapse of Adani's House of Cards - The Hindenburg Effect - Page 7

Latest updates:

• Gautam Adani has hired one of the most expensive legal firms in the US, Wachtell, in its fight against short-seller Hindenburg Research
  
• MSCI said in a statement it has reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC.
  
• Moody's on Friday revised downwards the rating outlook on 4 Adani Group companies to negative from stable.
  
• SEBI is looking into any potential violation of Indian securities laws or any conflict of interest in the share sale process, said the two sources who have direct knowledge of the matter. The watchdog is investigating relationships between Adani and at least two Mauritius-based firms -- Great International Tusker Fund and Ayushmat Ltd. -- which participated as anchor investors, among others, said the sources, who spoke on the condition of anonymity due to the confidential nature of the probe.
• Adani Wilmar Group in Himachal Pradesh has reportedly been raided over allegations of GST violations.
  
• Norway's $1.4 trillion sovereign wealth fund sold its remaining stake in the Adani Group companies.
  
• The LIC management will soon meet the top management of the crisis-ridden Adani Group and seek clarification on the crisis being faced by the diversified conglomerate, chairman M.R. Kumar said here on Thursday.