On Saturday, index provider MSCI said it is seeking feedback on Adani Group and related securities and is aware of a report by short-seller Hindenburg Research.

On Wednesday, the US short-seller said it took a short position in the Indian conglomerate, accusing it of improperly using offshore tax havens and voicing concerns about high debt that led to the Indian-listed shares of the conglomerate’s companies suffering a massive sell-off.

“MSCI is closely monitoring publicly available information regarding the circumstances and factors that may affect the eligibility of these underlying securities for the MSCI Global Investable Market Index,” it said in a statement.

All Adani Group shares, except Adani Wilmar, are included in the MSCI World Standard and FTSE indices. Adani Enterprises, Adani Ports, Adani Trans, Adani Total Gas, Adani Power, ACC, Ambuja and Adani Green appear in the MSCI Standard Index and the FTSE World Index.

MSCI will decide on treating the Adani stock index after receiving feedback and consultation, the statement said.