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Shares in India's Adani Group plunged up to 20 per cent on Friday and the company said it was considering legal action against U.S.-based short-selling firm Hindenburg Research for allegations of stock market manipulation and accounting fraud that have led investors to dump its stocks.
A U.S. short-selling firm published a damning report airing concerns about the group’s debt levels, activities of its top executives, use of offshore shell companies, and past investigations into fraud.
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