Adani Group is at the center of a dramatic development, as Hindenburg Research, the US-based short seller, has alleged that Swiss authorities have frozen more than $310 million across six Swiss bank accounts connected to the Indian conglomerate.

Previously in this Adani-Hindenburg Saga, the group had accused the market regulator, Security and Exchange Board of India's (SEBI)'s chairperson, Madhabhu Buch and her spouse of having vested interests in Adani's offshore companies.

Hindenburg Research is taking another swing at Adani Group with claims that Swiss prosecutors have been investigating the Indian conglomerate for money laundering.

In a fresh salvo against Adani Group, US short-seller Hindenburg Research alleged that Swiss authorities have frozen more than $310 million in funds across six Swiss bank accounts as part of an investigation into money laundering and securities forgery by the Indian conglomerate.

Ahmedabad: The Adani Group on Thursday unequivocally rejected and denied baseless allegations regarding claims by US short-seller Hindenburg Research that Swiss authorities have frozen its funds. Dismissing the latest allegations, an Adani Group spokesperson denied the baseless claims.

Hindenburg Research alleged that Swiss authorities have frozen more than $310 million in funds across several Swiss Bank accounts linked to the money laundering and securities investigation of Adani Group,

According to a report by the Swiss media outlet, Geneva Public Prosecutor’s Office was investigating alleged wrongdoing by the Adani Group well before Hindenburg Research made first accusations against the conglomerate.

Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into Adani Group, US-based short seller Hindenburg Research claimed citing media report - a charge that the conglomerate vehemently denied.

India's Adani Group said late on Thursday it has no involvement in any Swiss court proceedings after Hindenburg Research indicated that authorities had frozen more than $310 million of the company's funds as part of a money laundering and securities forgery investigation.

The Adani Group reiterated that its overseas holding structure is transparent, fully disclosed, and adheres to all applicable laws

Swiss Media outlet Gotham City reported that funds belonging to an entity linked to the Adani group have been sequestered in six Swiss Banks