New Delhi CNN —
One year ago, a spectacular David and Goliath battle shook corporate India when a tiny American firm took on one of the world’s richest infrastructure tycoons.
Hindenburg Research published a blistering report in January 2023, accusing Gautam Adani, then Asia’s richest man, of engaging in fraud over decades. Hindenburg said it had taken a short position in his companies, meaning it would benefit if their shares fell.
The Indian ports-to-power conglomerate denounced the short-seller’s report as “baseless” and “malicious.” But that failed to halt a stunning stock market meltdown that, at one point,
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