Indian billionaire Gautam Adani's conglomerate Adani Group faced another heavy selloff after short-seller Hindenburg Research accused the head of India's market regulator SEBI of having links to offshore funds also used by Adani Group. By the end of trading on Monday, over $2 billion had been wiped off the market value of Adani companies. Earlier losses went up to over $13 billion but recovered later. Hindenburg's new report cited whistleblower documents claiming SEBI chair Madhabi Puri Buch has a conflict of interest due to previous investments linked to Adani.
