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On January 27, 2023, India's stock market experienced a significant event involving the Adani Group, led by Asia's richest man. The company faced a sharp decline of 20% in its share value, leading to panic among investors. This was the result of a report released by U.S. short seller firm Hindenburg Research, accusing the Adani Group of various financial wrongdoing, including stock manipulation, accounting fraud, and improper use of funds. The report has raised questions about the credibility of the Adani Group and its response to the allegations.