Mauritius Minister Debunks Hindenburg Report On Adani Group, Calls It 'False & Baseless

A minister in the Mauritian government said on Wednesday that the Hindenburg Research report that said Adani Group Shell companies were in Mauritius is "false and baseless." The minister said that the Financial Services Commission informed him of the Hindenburg Research report regarding the presence of Adani Group Shell companies in Mauritius, the United Arab Emirates, and the Caribbean islands. The minister stated that, in accordance with the Income Tax Act, a foreign company must carry out its core income-generating activities in or from Mauritius. Second, a management company should be in charge of it and operate it from Mauritius. Keep an eye on Times Now for the recent developments.
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