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Hindenburg Research says if Adani Group files a lawsuit, it will demand documents from the company.

image source-Millenium Post   Adani Group has announced that it is considering legal action against Hindenburg Research, a US-based investment research firm, for its recent report on the Indian conglomerate. In response, Hindenburg has stated that it fully stands by its report and believes any legal action taken against them would be without merit. The report, which was released this week, alleged that Adani Group had used undisclosed related-party transactions and earnings manipulation to "maintain the appearance of financial health and solvency" of its listed business units. The firm also stated that they would welcome any legal action taken by Adani Group and would use the discovery process to demand documents.
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Go First Budget Airline to Receive $28.7 Million in Government Aid and Expand Operations


 Go First, a budget airline owned by the Wadia Group, plans to receive 210 crore rupees ($28.7 million) under the Indian government's credit line guarantee scheme next month to bolster its finances and expand operations. The airline received 210 crore rupees from its promoters last month and aims to have 53 operational aircraft in its fleet by April. CEO Kaushik Khona said the Pratt & Whitney engine issues, which have forced the grounding of many planes, are "gradually" being resolved and 20 new engines from the company are expected to arrive by April. The airline also plans to induct seven new Airbus A320 neo planes by April with 9 more new aircraft by March 2024. The airline aims for a 57% growth in passenger volume in 2023-24 and hopes to surpass its previous peak of 333 daily flights with 46 operational aircraft. The airline is stable with grounded planes returning to operations, low fuel costs, and rising air travel demand. Despite the current challenges with on-time performance, the airline has a high aircraft utilization rate and is seeing improvement in its on-time performance. Advanced bookings for January and April-June are looking good and the airline is offering special fare deals to encourage early bookings.


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