Adani Group's first reaction to Hindenburg attack - 'No Commercial Relationship With...'
After the US-based short seller made new accusations against the conglomerate on Sunday, hours later, an adani Group spokesperson said that the latest claims made by Hindenburg Research are malicious, cunning, and manipulative selections of publicly available information to arrive at predetermined conclusions for "personal profiteering with wanton disregard for facts and the law".
In a filing dated august 11, the adani Group spokesperson told stock exchanges, "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 january 2024."
The adani Group restated that it had a "fully transparent" offshore holding structure, with regular disclosures of all pertinent information in several public publications.
According to the spokeswoman, adani Group "absolutely has no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing". The brief statement from the adani Group spokesman ends, "We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements."
Soon after US-based short seller Hindenburg Research claimed on august 10 that SEBI Chairperson Madhabi Buch and her husband owned investments in "both the obscure offshore entities used in the adani money siphoning scandal," the couple released a joint statement earlier in the day refuting the claims.
Madhabi puri Buch and her spouse alleged character assassination against Hindenburg Research, which has been the target of enforcement action by SEBI.
"Our life and finances are an open book," they declared in a joint statement provided to the media. Over the years, SEBI has already received the necessary disclosures. We will not hesitate to provide any and all financial records to any entity that requests them, even those that pertain to our time as just private people. It is regrettable that in response to the show cause notice and enforcement action initiated by SEBI against Hindenburg Research, the company has decided to try character assassination."
In a filing dated august 11, the adani Group spokesperson told stock exchanges, "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 january 2024."
The adani Group restated that it had a "fully transparent" offshore holding structure, with regular disclosures of all pertinent information in several public publications.
According to the spokeswoman, adani Group "absolutely has no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing". The brief statement from the adani Group spokesman ends, "We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements."
Soon after US-based short seller Hindenburg Research claimed on august 10 that SEBI Chairperson Madhabi Buch and her husband owned investments in "both the obscure offshore entities used in the adani money siphoning scandal," the couple released a joint statement earlier in the day refuting the claims.
Madhabi puri Buch and her spouse alleged character assassination against Hindenburg Research, which has been the target of enforcement action by SEBI.
"Our life and finances are an open book," they declared in a joint statement provided to the media. Over the years, SEBI has already received the necessary disclosures. We will not hesitate to provide any and all financial records to any entity that requests them, even those that pertain to our time as just private people. It is regrettable that in response to the show cause notice and enforcement action initiated by SEBI against Hindenburg Research, the company has decided to try character assassination."