Adani hires US law firm Wachtell for legal battle against Hindenburg Research
New Delhi: Gautam Adani, who is in the midst of a whirlwind following the release of the Hindenburg Research report, has hired activism defense law firm Wachtell, Lipton, Rosen & Katz to fight against the allegation of the Adani Group indulging in fraud.
The Adani Group has said that it had been planning to take legal action against Hindenburg Research for the latter's allegations that the Group had been manipulating the stock market and accounting fraud, reports Economic Times.
The Hindenburg report alleged that offshore shell entities were owned by the Adani family members and used to support acts of corruption, money laundering, and theft of the taxpayer’s money.
The Adani conglomerate had called the report ‘bogus’ and threatened to take legal action. The businessman himself stated in a video speech recently that the balance sheet of Adani Group was ‘healthy’.
Hindenburg Research, on the other hand, had rebutted the criticism of its report being ‘bogus’ and declared that it would welcome legal action by the Group, as it believed, “any legal action against us would be meritless.”
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KKR defeat LSG via Super Over
Lucknow (PTI): Kolkata Knight Riders edged Lucknow Super Giants via Super Overs in a battle between two bottom-placed teams in the IPL, here on Sunday.
Chasing a modest 156, LSG suffered a batting collapse and managed to tie the contest and take it to Super Over with No. 9 Mohammed Shami striking a last-ball six against a wayward Kartik Tyagi, who leaked 16 runs in the final over.
But Sunil Narine bowled a stunning Super Over conceding just one run and taking two wickets to give KKR an easy target.
Rinku Singh then finished the chase with a boundary off first ball from Prince Yadav.
Earlier the KKR were in deep trouble with 93/7 in 15 overs but Rinku smashed a sensational 83 not out from 51 balls including four sixes in a row in the final over to lift them to 155/7.
Cameron Green (34) was the only other batter to reach double-digit scores as KKR suffered a familiar batting meltdown with Mohsin taking his maiden fifer.
In reply, LSG continued their dismal show with the bat to succumb to their fifth loss in a row.
Brief Scores:
Kolkata Knight Riders 155/7; 20 overs (Rinku Singh 83 not out, Cameron Green 34; Mohsin Khan 5/23). Lucknow Super Giants 155/8; 20 overs (Rishabh Pant 42). KKR won via Super Over.
