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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.

India's Bold Stand at SCO Summit: Sole Opposition to China's BRI Sparks Regional Tension


During the recent Shanghai Cooperation Organisation (SCO) summit, India stood as the sole country not expressing support for China's Belt and Road Initiative (BRI) in the concluding declaration. Chinese President Xi Jinping, who attended the summit alongside Indian Prime Minister Narendra Modi, Russian President Vladimir Putin, Pakistan Prime Minister Shehbaz Sharif, and other leaders, emphasized the importance of safeguarding "regional peace."


President Xi, in his address at the virtual summit, voiced opposition to protectionism and called for collaborative efforts to ensure shared security and regional peace, as reported by state news agency Xinhua. He stressed the need to pursue political solutions for pressing international and regional issues, highlighting the significance of establishing a strong regional security framework.

India's objection to the BRI is primarily linked to the China-Pakistan Economic Corridor (CPEC), a key component of the initiative that passes through Pakistan-occupied Kashmir (PoK). India maintains that such actions are illegal and unacceptable. The CPEC, extending from China's Xinjiang Uighur Autonomous Region to the Gwadar Port in Baluchistan, Pakistan, traverses through PoK, specifically the region of Gilgit Baltistan, before reaching the Arabian Sea. This segment of the BRI plays a crucial role in connecting China's western regions with the strategic Gwadar Port, enabling China to enhance trade activities through maritime routes.

The SCO summit, chaired by Prime Minister Modi, highlighted the situation in Afghanistan in its declaration. The member states recognized the urgent need for resolving the Afghan issue to maintain and enhance security and stability in the SCO region.

It is important to note that the provided information is based on the available context up until September 2021, and any recent developments or updates may not be included.

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