Hindenburg Research published reports against the Indian conglomerate in 2023, accusing the Adani Group of using offshore tax havens improperly.

In a social media post on 'X', formerly Twitter, Hindenburg Research Founder Nate Anderson said that he had made the decision to disband Hindenburg Research

Hindenburg Research, the firm that wiped over $100 billion off the Adani Group's market value in 2023, has announced its closure. The announcement came as a surprise, as the short-seller was pursuing probes against some of the biggest corporate moguls worldwide.

Hindenburg Research, whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down.