Adani Group is at the center of a dramatic development, as Hindenburg Research, the US-based short seller, has alleged that Swiss authorities have frozen more than $310 million across six Swiss bank accounts connected to the Indian conglomerate.

Indian billionaire Gautam Adani's firm has denied fresh allegations that Swiss authorities had frozen $310m (£236m) of their funds in Swiss bank accounts. US-based short-seller Hindenburg Research alleged that the action was part of a money laundering and securities forgery investigation into the Adani Group.

Shares of Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Total Gas, Adani Wilmar, Adani Energy, and Ambuja Cements fell between 0.4-2% on Friday.

US based short seller Hindenburg Research claimed that Swiss authorities have frozen more than USD 310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into Adani Group,

In what has transformed into a never-ending saga of revelations, the American short-selling group Hindenburg has come about with a new set of claims associated with the Indian business conglomerate, the Adani Group.

In a fresh salvo against Adani Group, US short-seller Hindenburg Research alleged that Swiss authorities have frozen more than $310 million in funds across six Swiss bank accounts as part of an investigation into money laundering and securities forgery by the Indian conglomerate.

"The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said.

Hindenburg alleges these funds were frozen as part of a "money laundering and securities forgery probe" in 2021; Adani says "no involvement" in any Swiss court

Hindenburg Research has claimed that Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani,

Adani Group claimed that its overseas holding structure is 'transparent, fully disclosed and compliant' with relevant laws