"No Violations": Mauritius Leader On US Short Seller's Adani Allegations
NDTV
Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the island nation's parliament that there is no shell company in Mauritius, and so the Hindenburg allegations are "false and baseless"
Mauritian Financial Services Minister Mahen Kumar Seeruttun has rejected allegations made by US short seller Hindenburg Research on the Adani Group using the Indian Ocean archipelago as a safe house to create shell companies.
Hindenburg on January 24 alleged that industrialist Gautam Adani used shell companies in Mauritius to manipulate stock prices of Adani Group firms.
Mr Seeruttun has told the island nation's parliament that there is no shell company in Mauritius, and so the Hindenburg allegations are "false and baseless".
A shell company is an inactive firm used as a vehicle for financial transactions.
