Adani Group has strongly condemned the latest accusations from Hindenburg Research, calling them “malicious”, “mischievous,” and “manipulative. In a statement released to stock exchanges, Adani group has rejected the recent claims made by the US-based short-seller, stating that its overseas holding structure is completely transparent. The conglomerate, headed by Gautam Adani, dismissed the allegations on August 11, stating that they were simply a rehash of previously discredited accusations that had already been investigated and dismissed by the Supreme Court in March 2023.
Here’s what the Adani Group had to say about the situation: “The recent allegations by Hindenburg are a malicious attempt to distort publicly available information to suit their own agenda, without any regard for the truth or the law. We completely deny these accusations against the Adani Group, which are nothing but recycled claims that have already been proven false and rejected by the Supreme Court. Our overseas holding structure is transparent, with all details disclosed in public documents. It is important to note that Anil Ahuja was associated with Adani Power and Adani Enterprises in the past.
The Adani Group has no business ties with the individuals mentioned in this orchestrated effort to tarnish our reputation. We continue to uphold principles of transparency and compliance with legal requirements. Hindenburg, a discredited short-seller with a history of violating Indian securities laws, is simply trying to distract from their own troubles by making baseless allegations against us,” Adani Group stated.
Adani Group’s response comes after Hindenburg Research’s report on August 10, which alleged that whistleblower documents revealed SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch had investments in offshore funds related to the Adani money siphoning scandal. The report also claimed that SEBI was hesitant to act on Hindenburg’s previous Adani report from January 2023 due to the alleged investments of Madhabi Puri Buch.
Madhabi Puri Buch and Dhaval Buch have denied these accusations, calling them ‘baseless’ and an attempt to tarnish their character. “We strongly deny the baseless allegations made in the report. Our life and finances are an open book. All required disclosures have been provided to SEBI over the years,” Madhabi and Dhaval Buch stated.
“It is unfortunate that Hindenburg Research, against whom SEBI has taken enforcement actions, is resorting to character assassination in response,” they added. Stay tuned for more updates on the Hindenburg-Adani Case! #AdaniGroup #HindenburgResearch #SEBI #GautamAdani #SupremeCourt #Transparency #Compliance #CharacterAssassination #MoneySiphoning #HindenburgAdaniCase #ShortSeller #Investigations #BaselessAllegations #IndianLaws #EnforcementActions #StockExchanges #OffshoreFunds #ComplianceRequirements #LegalRegulations #OpenBookFinances #RedHerrings #Defamation #Allegations #StockMarket #PublicDocuments #WhistleblowerDocuments #InvestigationsMatter #DesperateAttempts #BusinessEthics #CorporateValues #TopManagementIssues #CorporateIntegrity #IndianAuthorities #MarketRegulations #FinancialIntegrity #PublicInterest
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