Nomura sued by Adani-linked fund accused in short-seller report

The Elara-owned Oyster Bay Fund borrowed from Nomura to make leveraged bets on Adani Enterprises and Adani Ports. Those positions collapsed after Hindenburg Researchs January 2023 report accused the Adani Group of “brazen stock manipulation” and suggested Elara-linked funds were involved, according to High Court filings.