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Richest Indian Gautam Adani’s company on Sunday likened the scathing charges levelled by short seller Hindenburg Research to a “planned attack” on India, its institutions and development story, adding the allegations are “nothing but a fraud”.
In a 413-page rebuttal, Adani Group claimed that the research was motivated by “an ulterior objective” to “create a phoney market” so that the US corporation could profit.
“This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,” it said.