Adani Group Hires US Law Firm Watchtell To Challenge Hindenburg In US Court

Losses above $100 billion

Adani Group’s market cap decreased by $ 100 billion. Hindenburg had made serious allegations in the report regarding several companies of Adani. Adani wants to avenge his loss from this short seller company. After which Adani is now ready for a legal battle with Hindenburg.

Hearing can be held in Supreme Court

According to Business Today, the Adani group has approached top law firms and law experts from New York like Wachtel, Lifton, Rosen, Katz for legal battle against Hindenburg. After the Hindenburg report, the company had to suffer heavy losses. Now Adani group has hired American legal firm Watchtel for legal action against him. The Supreme Court may also hear two petitions related to the Hindenburg report against the Adani group soon.

Interrogation of Cyril Amarchand Mangaldas

Wachtel contacted the office of the Cyril Amarchand Mangaldas firm, which is working with the Adani group. Cyril Amarchand Mangaldas is headed by Cyril Shroff, whose daughter is married to Gautam Adani’s son. Wachtel is reportedly in the role of advisor to the Adani Group. The law firm, which specializes in thwarting unwanted attacks by corporate attackers, does legal coordination for the group.

Hindenburg had accused

Hindenburg presented his negative report on 24 January 2023 about Adani Group companies. Since the arrival of this report, Adani Group has seen tremendous losses in its company’s shares (Adani Share). Shares of almost every Adani group company saw a decline.

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