Investigate into allegations against Adani group in report of Hindenburg Research

Statement demanding investigation of Hindenburg Research Report on Adani Group, signed by Amarjeet Kaur, General Secretary, All India Trade Union Congress:

***

In a shocking revelation Hindenburg Research, an investment research firm has published a research report on Adani Group claiming that the conglomerate has engaged in “brazen stock manipulation and accounting fraud scheme over the course of decades”. Presenting evidence the report says that the seven listed companies of Adani Conglomerate are 85% over valued.
Report of the Hindenburg research is of a serious nature. The report has come out with substantiating evidences of accounting fraud and stock manipulation. It goes on to allege that inflated stock values are pledged with the banks to raise loans. The report also claims to have investigated a complex web of offshore entities and shell entities linked to Adani group. If the allegations are proved to be true, the ramifications will be very serious given the size of stocks involved.
Reported stock manipulations and accounting frauds, if proved true, will involve the support and connivance of the government and its departments. The report has also brought to scrutiny the role of India’s capital market regulator the Securities and Exchange Board of India and the Reserve Bank of India, the central regulatory body.
Gautam Adani’s meteoric rise in the year 2021-22 even while Indian economy was in doldrums cannot but be missed in the background of this report. Whole phenomenon unleashes the crude reality as to how crony capitalism perniciously plunders the economy. This is a classic case to illustrate how the fortunes of the friends of Prime Minister and the government hinge on the access to resources and departments that are controlled by the government.
There can be no smoke without fire. The report of such grave fraud and manipulations that will drastically impact the stock market and economy cannot be ignored.
It is being reported that desperate attempts are being made to shore up plummeting Adani shares and LIC of India has 'offered' to buy those shares. The complicity of powers-that-be cannot be missed. This is throwing good money after bad, at the expense of the common people.
All India Trade Union Congress demands an investigation on the report of Hindenburg Research.

Comments

Plastic burning in homes threatens food, water and air across Global South: Study

By Jag Jivan In a groundbreaking study spanning 26 countries across the Global South , researchers have uncovered the widespread and concerning practice of households burning plastic waste as a fuel for cooking, heating, and other domestic needs. The research, published in Nature Communications , reveals that this hazardous method of managing both waste and energy poverty is driven by systemic failures in municipal services and the unaffordability of clean alternatives, posing severe risks to human health and the environment.

From protest to proof: Why civil society must rethink environmental resistance

By Shankar Sharma* As concerned environmentalists and informed citizens, many of us share deep unease about the way environmental governance in our country is being managed—or mismanaged. Our complaints range across sectors and regions, and most of them are legitimate. Yet a hard question confronts us: are complaints, by themselves, effective? Experience suggests they are not.

Economic superpower’s social failure? Inequality, malnutrition and crisis of India's democracy

By Vikas Meshram India may be celebrated as one of the world’s fastest-growing economies, but a closer look at who benefits from that growth tells a starkly different story. The recently released World Inequality Report 2026 lays bare a country sharply divided by wealth, privilege and power. According to the report, nearly 65 percent of India’s total wealth is owned by the richest 10 percent of its population, while the bottom half of the country controls barely 6.4 percent. The top one percent—around 14 million people—holds more than 40 percent, the highest concentration since 1961. Meanwhile, the female labour force participation rate is a dismal 15.7 percent.

Kolkata event marks 100 years since first Communist conference in India

By Harsh Thakor* A public assembly was held in Kolkata on December 24, 2025, to mark the centenary of the First Communist Conference in India , originally convened in Kanpur from December 26 to 28, 1925. The programme was organised by CPI (ML) New Democracy at Subodh Mallik Square on Lenin Sarani. According to the organisers, around 2,000 people attended the assembly.

From colonial mercantilism to Hindutva: New book on the making of power in Gujarat

By Rajiv Shah Professor Ghanshyam Shah ’s latest book, “ Caste-Class Hegemony and State Power: A Study of Gujarat Politics ”, published by Routledge , is penned by one of Gujarat ’s most respected chroniclers, drawing on decades of fieldwork in the state. It seeks to dissect how caste and class factors overlap to perpetuate the hegemony of upper strata in an ostensibly democratic polity. The book probes the dominance of two main political parties in Gujarat—the Indian National Congress and the BJP—arguing that both have sustained capitalist growth while reinforcing Brahmanic hierarchies.

Urgent need to study cause of large number of natural deaths in Gulf countries

By Venkatesh Nayak* According to data tabled in Parliament in April 2018, there are 87.76 lakh (8.77 million) Indians in six Gulf countries, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). While replying to an Unstarred Question (#6091) raised in the Lok Sabha, the Union Minister of State for External Affairs said, during the first half of this financial year alone (between April-September 2018), blue-collared Indian workers in these countries had remitted USD 33.47 Billion back home. Not much is known about the human cost of such earnings which swell up the country’s forex reserves quietly. My recent RTI intervention and research of proceedings in Parliament has revealed that between 2012 and mid-2018 more than 24,570 Indian Workers died in these Gulf countries. This works out to an average of more than 10 deaths per day. For every US$ 1 Billion they remitted to India during the same period there were at least 117 deaths of Indian Workers in Gulf ...

The greatest threat to our food system: The aggressive push for GM crops

By Bharat Dogra Thanks to the courageous resistance of several leading scientists who continue to speak the truth despite increasing pressures from the powerful GM crop and GM food lobby , the many-sided and in some contexts irreversible environmental and health impacts of GM foods and crops, as well as the highly disruptive effects of this technology on farmers, are widely known today.

History, culture and literature of Fatehpur, UP, from where Maulana Hasrat Mohani hailed

By Vidya Bhushan Rawat* Maulana Hasrat Mohani was a member of the Constituent Assembly and an extremely important leader of our freedom movement. Born in Unnao district of Uttar Pradesh, Hasrat Mohani's relationship with nearby district of Fatehpur is interesting and not explored much by biographers and historians. Dr Mohammad Ismail Azad Fatehpuri has written a book on Maulana Hasrat Mohani and Fatehpur. The book is in Urdu. He has just come out with another important book, 'Hindi kee Pratham Rachna: Chandayan' authored by Mulla Daud Dalmai.' During my recent visit to Fatehpur town, I had an opportunity to meet Dr Mohammad Ismail Azad Fatehpuri and recorded a conversation with him on issues of history, culture and literature of Fatehpur. Sharing this conversation here with you. Kindly click this link. --- *Human rights defender. Facebook https://www.facebook.com/vbrawat , X @freetohumanity, Skype @vbrawat

Transgender Bill testimony of Govt of India's ‘contempt’ for marginalized community

Counterview Desk India’s civil society network, National Alliance of People’s Movements (NAPM)* has said that the controversial transgender Bill, passed in the Rajya Sabha on November 26, which happened to be the 70th anniversary of the Indian Constitution, is a reflection on the way the Government of India looks at the marginalized community with utter contempt.

Search This Blog