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Hindenburg’s allegations are no more than red herrings, said the Adani Group. (File Photo)
The Adani group has denied the fresh allegations made by US-based short seller calling it a “red herring”.
In a statement to the stock exchanges on Sunday, an Adani group spokesperson said 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.
“It is reiterated that our overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents. Furthermore, Anil Ahuja was a nominee director of the 3i investment fund in Adani Power (2007-2008) and, later, a director of Adani Enterprises until 2017.
The Adani Group has absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing. We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements,” the statement said.
“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.
First Published: Aug 11 2024 | 12:34 PM IST
