Nomura Holdings Inc. faces legal action in London over loans extended to an investment fund with significant exposure to Adani Group companies. The lawsuit, filed by Oyster Bay Fund Ltd., owned by Elara Capital Plc, centers on disputed loan arrangements that came under pressure following a damaging short-seller report in January 2023. Following the Hindenburg report, shares in Adani companies experienced significant declines, prompting concern among Nomura's senior bankers in Asia who sought to reduce their loan exposure to the fund. Regulatory and Market ImpactThe Hindenburg report had far-reaching consequences beyond this specific lawsuit. Current StatusNomura has stated it "disagrees with Oyster Bay Fund's claim" and will "vigorously defend it."

Source: Economic Times January 20, 2026 13:05 UTC