The Adani Group has refuteed the tardyst increate by US-based low-seller Hindenburg Research as “recycled claims” that were earlier “shown baseless and neglected by the Supreme Court”. The conglomerate said the allegations were aimed at personal profiteering that dispondered facts and the law.
“For a disaccomprehendledgeed low-seller under the scanner for disjoinal violations of Indian securities laws, Hindenburg’s allegations are no more than red herrings thrown by a hopeless entity with total conlure for Indian laws,” the group said in an trade filing.
The statement was referring to the show-caparticipate see sent by labelets regulator SEBI last month to Hindenburg and its sole advantageous owner Nathan Anderson.
In July, the Securities Exalter Board of India had flagged violations by Hindenburg and Anderson under the SEBI Act, SEBI’s Prevention of Fraudulent and Ununpartisan Trade Practices regulations, and SEBI’s Code of Conduct for Research Analyst regulations.
Full Statement by Adani Group
Hindenburg Report – A Red Herring
The tardyst allegations by Hindenburg are harmful, mischievous and deceptive pickions of accessiblely useable increateation to get to at pre-choosed conclusions for personal profiteering with wanton disponder for facts and the law. We finishly refute these allegations aachievest the Adani Group which are a recycling of disaccomprehendledgeed claims that have been thorawly spendigated, shown to be baseless and already neglected by the Hon’ble Supreme Court in March 2023.
It is reiterated that our overseas hancigo ining structure is filledy see-thcoarse, with all relevant details disseald standardly in countless accessible write downs. Furthermore, Anil Ahuja was a nominee honestor of 3i spendment fund in Adani Power (2007-2008) and, tardyr, a honestor of Adani Enterpascfinishs until 2017.
The Adani Group has absolutely no commercial relationship with the individuals or matters alludeed in this calcutardyd intentional effort to malign our standing. We remain steadspeedyly promiseted to transparency and compliance with all lhorrible and regulatory needments.
For a disaccomprehendledgeed low-seller under the scanner for disjoinal violations of Indian securities laws, Hindenburg’s allegations are no more than red herrings thrown by a hopeless entity with total conlure for Indian laws.
– Spokesperson, Adani Group
The statement came after SEBI chairman Madhabi Puri Buch and her husband Dhaval Buch, called the increate an tryed “character killing” in response to the SEBI’s July action aachievest the low-seller.
SEBI chief’s filled statement:
In the context of allegations made in the Hindenburg Report dated August 10,2024 aachievest us, we would enjoy to state that we strongly refute the baseless allegations and insinuations made in the increate. The same are devoid of any truth. Our life and finances are an uncover book. All disclobraves as needd have already been supplyed to SEBI over the years. We have no hesitation in disclosing any and all financial write downs, including those that retardy to the period when we were harshly braveial citizens, to any and every authority that may seek them. Further, in the interest of finish transparency, we would be issuing a detailed statement in due course.
It is cursed that Hindenburg Research aachievest whom SEBI has apshown an Enforcement action and publishd a show caparticipate see has chosen to try character killing in response to the same.
Madhabi Puri Buch
Dhaval Buch
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Netlabors Limited, an Adani Group Company.)
