Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaks at the World Congress of Accountants in Mumbai on November 19, 2022. Shares of India's Adani Enterprises have plummeted over the past week, after the publication of an extensive critical report from U.S. short-seller Hindenburg Research. The ports-to-energy conglomerate, led by one of the world's richest men, Gautam Adani, has vehemently denied wrongdoing. The Adani Group firmly denies the accusations, calling them "nothing but a lie" from the "Madoffs of Manhattan" in a 413-page riposte that failed to soothe skittish investor sentiment and rein in a rapid sell-off. Adani owns 64% of Adani Enterprises — the Adani SB Family holds 55.27%, while 8.73% is with Adani Tradeline Pvt Ltd, where Gautam and brother Rajesh Adani are controlling directors.

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