The Financial Conduct Authority is monitoring potential links between Adani Group and the City firm Elara Capital, which is alleged to have ties to the embattled Indian conglomerate.
A report from US-based short-seller activist firm Hindenburg Research claims that London-based Elara Capital "almost exclusively holds Adani Group stock" in some of its funds and has further ties to Adani. The report, published on 24 January, triggered an ongoing stock rout after accusing Adani of accounting fraud and stock manipulation.
