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Adani Group

Gautam Adani's empire in crisis: 5 things to know

Indian billionaire and his conglomerate are reeling from short-seller attack

Gautam Adani's personal wealth has been hit hard in the fallout from a blistering report by a U.S. short-seller. (Nikkei montage/AFP/Jiji/AP/Reuters)

BENGALURU -- Until just over a week ago, Gautam Adani projected the image of a near-invincible business tycoon whose corporate empire and wealth looked set to expand relentlessly. After all, his huge conglomerate had emerged as a key player in India's push to develop slick highways, gleaming airports and other world-class infrastructure.

But that all changed on Jan. 25 when U.S. short-seller Hindenburg Research launched a blistering attack against the Adani Group, accusing it of stock manipulation, accounting fraud and a host of other wrongdoing.

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