Malicious, Manipulative: Adani Group On Hindenburg Allegations

The Adani Group has responded to Hindenburg's latest allegations, labelling them as "malicious, mischievous and manipulative."

"The latest allegations by Hindenburg are malicious, mischievous and manipulative selections of publicly available information to arrive at pre-determined conclusions for personal profiteering with wanton disregard for facts and the law," a spokesperson for the group said on Sunday.

"We completely reject these allegations against the Adani Group which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Hon'ble Supreme Court in March 2023," the statement added.

The group added that its overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents.

Further, it added that Anil Ahuja was a nominee director of 3i investment fund in Adani Power (2007- 2008) and, later, a director of Adani Enterprises until 2017.

The spokesperson clarified that the Adani Group has absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort.

"We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements. 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," the spokesperson said.

SEBI chief, Madhabi Puri Buch, too, has strongly denied allegations levided against them by short seller Hindenburg as baseless.

In a statement, co-signed with her husband, Dhaval Buch, the Indian market regulator's Chairman has called it a "character assassination attempt" because a enforcement action and show-cause notice was issued to the Nate Anderson-led company around a month back.

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