Adani-Hindenburg Row:  Adani Enterprises’s Spokesperson on Friday told that the conglomerate did not know about the subpoena being issued by the US regulators to its American investors.

The above information, reported by Reuters followed after Bloomberg reported that US Attorney’s Office in Brooklyn, New York went thoroughly through the representations made by the Adani group to its US investors, in the wake of the Hindenburg report made some concerning allegations on the former for stock manipulation.

As per Reports, the US Attorney’s Office in Brooklyn, New York, in the past few months had sent inquiries to the Conglomerate’s foreign investors having large holdings in the company. The USA regulators are keen to know what the Adani Group had told its investors.

Bloomberg further reported about US Securities and Exchange Commission conducting a probe concerning the same matter.

What do the inquiries signify?

Such requests from US prosecutors do not account for the filing of any criminal or civic proceedings as law enforcement agencies from time to time enquire about people relating to any particular matter, which generally does not lead to any action.

As these reports spread to the markets, Adani Group’s stock fell up to six per cent on Friday in intra-day on the BSE.

Commenting on the US Regulator’s action, Adani Group’s spokesperson stated, “Our various issuer groups remain confident that the disclosures are full and complete as disclosed in the relevant issuer offering circulars.”

Hindenburg, a US investment research firm and short-seller company, in January this year, targeted Adani Group. The short-seller company published a report in which it accused the latter of “stock manupulation and accounting fraud” and termed it as the “largest con in corporate history.”

Following the incident, the port-to-power conglomerate published a report containing 424 pages in its response to the allegation; denying them at the same time.