Adani Group denies Hidenburg’s allegations of freezing Swizz bank accounts

NEW DELHI: The Adani-Hindenburg row is taking a new turn. Hindenburg released a report of Swiss authorities freezing six accounts of the Adani Group containing more than $310 million as part of an investigation into alleged crimes including money laundering. Adani Group later came forward accusing this report as fake.

The Adani Group said the allegations that have surfaced now are baseless. The Adani Group has repeatedly stated that its foreign holding structure is transparent, fully disclosed and compliant with all relevant laws. Adani Group has clarified that it is not involved in any Swiss court proceedings and its companies are not mentioned in any such court documents.

In a post on X, Hindenburg shared the information released by the Swiss court. This news was released by the Swiss media outlet @news-gotham. According to the report, the investigation was based on the first reports released by Hindenburg and following this, $310 million in six Swiss accounts in the name of Adani were frozen.