However, the conglomerate denied the charges vehemently.

On the BSE, the stock of Adani Green Energy nosedived 4.43 per cent to ₹927.65 apiece, with a market capitalisation of ₹1.47 lakh crore.

The scrip of Adani Power plunged 3.82 per cent to ₹315.85, flagship firm Adani Enterprises declined 3.56 per cent to ₹2,424 and Adani Energy Solutions fell 3.18 per cent to ₹814.95 apiece on the bourse.

Also, Adani Ports and Special Economic Zone (APSEZ) slipped 2.75 per cent to ₹796.50, Adani Total Gas dipped 2.74 per cent to ₹634.60, NDTV fell 2.69 per cent to ₹213.30 and Adani Wilmar declined 1.83 per cent to ₹362.20 per piece on the BSE.

Shares of ACC dipped 3.15 per cent to ₹1,937.10 and Ambuja Cements fell 2.84 per cent to ₹431.60.

In the morning session, the 30-shares BSE Sensex was trading 38.32 points or 0.06 per cent lower at 65,048.93 points.

The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.

Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP (Organised Crime and Corruption Reporting Project) said its investigation found at least two cases where the “mysterious” investors bought and sold Adani stock through such offshore structures.

The two men, Nasser Ali Shaban Ahli and Chang Chung-Ling, who OCCRP claimed have longtime business ties to the Adani family and have also served as directors and shareholders in Group companies and firms associated with Gautam Adani’s elder brother Vinod Adani, “spent years buying and selling Adani stock through offshore structures that obscured their involvement – and made considerable profits in the process.”

The documents “show that the management company in charge of their investments paid a Vinod Adani company to advice them in their investment”, it alleged.

Adani in a statement categorically rejected what it called as “recycled allegations”, calling them “yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report”.

“These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs. An independent adjudicating authority and an appellate tribunal had both confirmed that there was no over-valuation and that the transactions were in accordance with applicable law. The matter attained finality in March 2023 when the Supreme Court of India ruled in our favour. Clearly, since there was no over-valuation, there is no relevance or foundation for these allegations on transfer of funds,” it said.