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Adani Group Says Latest Hindenburg Allegations Are ‘Malicious’

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The Adani Group headquarters in Ahmedabad, Gujarat, India, on Tuesday, Oct. 31, 2023. Adani Group has been clawing back lost ground in recent months, regaining investor and lender confidence after denying Hindenburg Research’s scathing allegations of corporate fraud. Photographer: Prashanth Vishwanathan/Bloomberg (Prashanth Vishwanathan/Bloomberg)

(Bloomberg) -- The latest allegations by Hindenburg are malicious, mischievous and manipulative selections of publicly available information, the Adani Group says in an exchange filing. 

  • “The Adani Group has absolutely no commercial relationship with the individuals or matters mentioned” in the latest Hindenburg report: statement
  • “We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements”: statement
  • “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 Supreme Court in March 2023: statement
  • “It is reiterated that our overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents”
  • Read: Hindenburg Alleges Indian Regulator’s Chair Has Adani Conflict

 

 

 

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