The Adani Group has strongly rejected recent allegations made by Hindenburg Research, calling the firm a “discredited short-seller” in a statement released today. An Adani Group spokesperson said, “Hindenburg’s allegations are no more than red herrings thrown by a desperate entity with total contempt for Indian laws.”
The Group described Hindenburg’s claims as “malicious” and “manipulative,” saying they were made “with wanton disregard for facts and the law.”
Adani’s statement insisted that these allegations have already been “thoroughly investigated, proven to be baseless and dismissed by the Hon’ble Supreme Court in March 2023.”
The company affirmed its commitment to following regulations, stating, “We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements.”
This response follows Hindenburg Research’s report published on August 10, 2024, which made several allegations against the Adani Group.
Neither Hindenburg Research nor regulatory authorities have commented on Adani’s latest statement.
