Srinagar, Jan. 27 -- - Asia's and India's richest billionaire- Gautam Adani's fortune fell sharply on Friday and his ranking in the global rich list came down to the seventh spot following a rout in the Adani Group stocks post Hindenburg's report.

According to Forbes World's Real Time Billionaires List, Adani's wealth fell by USD 22.6 billion on Friday, taking him to the 7th spot on the list.

Hindenburg on Wednesday had alleged group companies to be involved in stock manipulation, money laundering and accounting fraud.

Adani Group on Thursday had said that it was evaluating relevant provisions under US and Indian Laws for remedial and punitive action against Hindenburg Research.

Shares of Adani Group's seven listed companies crashed f...