New Delhi: The Adani Group on Sunday slammed American short-seller Hindenburg for claiming that the conglomerate had financial links with Sebi chairperson Madhabi Buch and her husband, saying the allegations were malicious, mischievous and manipulative.
The conglomerate accused the firm of arriving at pre-determined conclusions for “personal profiteering’.
“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. 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,” it said.
The group said its overseas holding structure was fully transparent, with all relevant details disclosed regularly in numerous public documents.
The statement further read the Adani Group has no commercial relationship with the Sebi chief or her husband Dhaval Bhuc. It further accused the American company of carrying out deliberate efforts to “malign our standing”.
“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,” it said.
It also called Hindenburg Research a “discredited short-seller”.
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,” it added.
