New Delhi: Adani Group has hired a US-based legal firm Wachtell to fight a legal battle with American research and short-seller firm Hindenburg.
Along with this, the Adani Group has also added senior lawyers at Wachtell, Lipton, Rosen & Katz to the case against Hindenburg.
Due to the report of Hindenburg firm on January 24, Adani group companies have suffered major loss. The research firm had also accused the Adani Group of accounting fraud and stock manipulation, among others.
The Adani Group had denied the allegations. The dispute between the two increased through the media and both remained firm on their claims.
Hindenburg had challenged the Adani Group to file a lawsuit in a US court, which the Adani Group now feels has accepted.
Soon after the report, the Adani Group said it was considering legal action in this regard.
According to media reports, the Watchtail firm is quite famous and has a lot of name in fighting cases in such disputed cases.