Securities fraud by the 'Madoffs of Manhattan', says Adani group

It further said the report by Hindenburg Research is nothing but a lie

Terming Hindenburg Research's conduct a “securities fraud”, the Adani group on Sunday night said it was shocked and deeply disturbed to read the report published by the “Madoffs of Manhattan”. It further said the report by Hindenburg Research was nothing but a lie.

In a 413-page document, Adani retaliated against the American short-seller, saying the document was a “malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive”.

“This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short