The US government dismissed Hindenburg Research’s fraud allegations against Indian billionaire Gautam Adani, stating they were irrelevant to the $553 million extension for Adani Ports & Special Economic Zone Ltd.’s container terminal in Sri Lanka. The International Development Finance Corp. (DFC) conducted due diligence, affirming the accusations weren’t applicable to the subsidiary. The US agency will monitor Adani to prevent unintentional support for financial misconduct. The Sri Lankan port deal, backed by the US government, counters China’s influence in the region. Despite controversies, including the Australia coal mine, Adani Group sees DFC’s investment as international confidence in its vision and governance.
US Government Clears Adani Amid Fraud Allegations for Sri Lankan Port Project
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