BusinessAdani Group remarks amidst the Hindenburg reports

Adani Group remarks amidst the Hindenburg reports

Adani Group claims the Hindenburg Report has "ulterior motives"

Adani Group claims the Hindenburg Report has “ulterior motives”

Amidst the allegations of “stock manipulation and accounting malpractice” made by Hindenburg Research, the Ahmedabad-based Adani Group dismissed all allegations, according to its rebuttal report.

The Adani Group had claimed that the research is “an attack on India and its independent institutions.”

The Adani group exclaimed various points in the rejoinder report and dismissed many allegations allegedly written in the Hindenburg report. The Adani group called the research, “driven by an ulterior motive to create a false market” to distract the market and allow the U.S. market to make a financial profit.

According to the Group, the research is “baseless.”

On January 26th, the U.S. organization made a media statement, stating that they would “welcome” all the threats of legal action made by the group. Thus, following the media statement, this is the group’s first detailed response provided by millionaire Gautam Adani.

According to the short seller, the research is driven by many verified reports. The report was created as a result of a two-year investigation. Thus, the short seller exclaimed that they visited different countries to dig into documents. Not only this, but the short seller had conceptualized much of the data provided by the executives.

Therefore, in the statement made by the group, it claimed to take legal action: “We will exercise our rights to pursue remedies to safeguard our stakeholders before all appropriate authorities, and we reserve our rights to respond further to any of the allegations or contents of the Hindenburg report.”

In its rejoinder, Adani Group dismissed all 88 questions that the Hindenburg reports carried.

Published at :

EBNW Story is managed by students of Saksham Sanchar Foundation. If you like the efforts to make #BrilliantBharat, you can encourage them through donation - Thank you

Related Stories