Blitz Bureau
The Adani Group on August 11 vehemently rejected the latest allegations by Hindenburg Research as “malicious, mischievous and manipulative selections of publicly available information” to arrive at “predetermined conclusions for personal profiteering with wanton disregard for facts and the law”.
In a stock exchange filing, the Group completely rejected these allegations “which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Honourable Supreme Court in January 2024”.
“For a discredited short-seller under the scanner for several violations of Indian securities laws, Hindenburg’s allegations are no more than red herrings thrown by a desperate entity with total contempt for Indian laws,” said the Adani Group.
A spokesperson from the Adani Group reiterated that the company’s overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents.
Earlier in the day, the Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and her husband Dhaval Buch strongly denied the allegation levelled by Hindenburg Research against them, calling it a “character assassination attempt” because an Enforcement action and show cause notice was issued to the Nate Anderson-led company last month.
