New Delhi, 22 April (IANS). Hindbanberg Research, which attacked Adani Group through its fake reports, has announced to shut down its operations in January. However, it contains a major contribution of a secret investigation to highlight and expose those who support the internal functioning of the research firm.
In January 2023, Hindonburg Research released a report, describing Adani Group as a “biggest scam in corporate history”.
The attack led to a decrease in the group’s market capitalization of more than $ 150 billion, causing the group to cancel their largest public offer. However, now Adani Group has made a strong comeback.
Hindenberg’s report came only a few days before to finalize a $ 1.2 billion deal for the acquisition of Haifa Port of Adani Group Chairman Gautam Adani.
The Joint Venture of Israeli firm Gadot Masofim for Chemicals Limited and Adani Ports and Special Economic Zone Limited won the bid for Haifa Port, which had a majority stake with the Indian firm.
For privatization of Haifa Port, it took a long time of 18 months to get dialects, evaluation and approval. Israeli Prime Minister Benjamin Netanyahu was present at the time of signature ceremony on 31 January 2023.
As soon as the report about Hindonburg’s group came out, a top Israeli leader questioned Gautam Adani about the allegations, which the Indian billionaire strongly replied that the report was “completely lie”.
According to people associated with the case, the group started ‘Operation Jephalin’ and made a strong comeback against Hindonburg. It is believed that an Israeli intelligence agency was also taken help in it.
The attempt included a mixture of public relations, laws and strategic tips, allowing investors to restore the trust.
‘Operation Jephalin’ was named after the German airplanes used for reconnaissance and bombing during World War I.
According to sources, the Israeli people considered the Hindonberg report to be a deliberate attempt to weaken the Haifa Port deal.
The deal was considered strategically important for the ‘Indo-Central East-Europe Economic Corridor’.
The Adani Group focused on the main businesses after the Hindonburg report. At the same time, continued to work secretly on ‘Operation Jephalin’.
According to sources, the former intelligence officials were successful in adding links to the case, as they found a trap of activists lawyers, journalists, hedge funds and political personalities, some of whom were allegedly associated with Chinese interests, while others were associated with the power brokers of Washington.
According to the people associated with the case, Gautam Adani was informed about the secret operation in January 2024 during his personal visit to Switzerland.
A team of lawyers and intelligence advisors in Ahmedabad worked during surveillance in the US. A state -of -the -art control room was set up with cyber experts and analysts and legal teams worked in international capitals.
Documents leaked in 2024 were allegedly shown relations between American agencies and media platforms, carrying forward anti -Adani operations.
In November last year, the US Department of Justice and the Securities and Exchange Commission (SEC) accused the leading officials of the Adani Group of being part of the alleged ‘bribery plan’ to get a renewable energy supply contract in India.
Adani Group dismissed all the allegations.
At the same time, Adani Group prepared to initiate legal proceedings against Hindonburg Research and its founder Nathan Anderson and sent a legal notice.
A meeting was also proposed between the legal team of Adani Group and Hindonberg officials, but it was not clear whether the meeting was held or not.
On 15 January, Hindonburg Research announced that it was closing. The decision to suddenly shut down operations surprised many people, as the announcement was made three days before the new President Donald Trump was sworn in in the US.
According to media reports, a court battle at Ontario, Canada has revealed sufficient evidence against the short-seller firm Hindanberg Research and its founder Anderson, which has revealed the possible secular fraud by Hindonberg’s secret relationship, firm and the founder.
-IANS
ABS/ABM
