A few days ago, the renowned corporation Adani Group in the nation was charged of undervaluing its true worth by the American study company Hindenburg.

Adani Group has now responded to this with a 413-page rebuttal. According to the corporation, this is a severe accusation intended to damage India's reputation and that of its institutions.

In response, The Adani Group compared it to a well-planned offensive, sort of an attack on India, its institutions, and its success narrative. According to him, the accusations are "nothing but lies."

The Adani Group said in its 413-page response that the research was influenced by a secret goal to establish a market of lies in order for the US company to profit.

In just two trading sessions following the release of the Hindenburg report, the Adani Group's market value fell by almost USD 50 billion, while Gautam Adani alone saw a loss of over USD 20 billion.

According to the Hindenburg Research analysis, the true valuation of the enterprises in the Adani group is relatively low.

Hindenburg Research has responded to the Adani Group's response in kind. According to Hindenburg, the fraud could not be prevented by nationalism or a reaction to the like.

It considers India to be a thriving democracy and a rising superpower. It is being systematically blocked by the Adani group.