Gautam Adani calls Hindenburg “targeted misinformation,” invokes “matrabhumi.”
Gautam Adani invokes ‘matrabhumi’, criticises Hindenburg for ‘targeted disinformation’. To respond to Hindenburg Research’s “malicious” claims and “false narratives,” he adopted the same language that he had used in the annual reports of his group’s listed enterprises the previous month. These reports were published in the United Kingdom.
NEW DELHI: Billionaire Gautam Adani, on Tuesday, invoked the growth prospects of’matrabhumi’ India and the potential it holds for his business empire as he once again attacked US short-seller Hindenburg for a’malicious’ attempt to ruin the reputation of his conglomerate. Hindenburg has been accused of attempting to damage the reputation of Gautam Adani Group by publishing false information about the company.
At the annual shareholders meeting of his ports-to-energy conglomerate, Adani stated that the group’s assets and operating cashflows have gotten stronger and healthier, and that the company will continue to consolidate what it has established while looking at expanding its horizons. Adani is an Indian business magnate.
He responded to Hindenburg Research’s “malicious” claims and “false narratives” that “various vested interests tried to exploit” by using the identical wording that he had used in the annual reports of his group’s listed enterprises the previous month.
He has stated more than once that his multinational corporation continues to have faith in the governance and disclosure requirements it has established.
On January 24, Hindenburg accused Adani of “brazen stock manipulation and accounting fraud” as well as utilising a “labyrinthine network” of shell firms for surreptitious money transactions. These charges have been vehemently disputed by the group, which has referred to the report as “a calculated attack on India.”
The market value of the group’s listed firms at their lowest point was reduced by close to USD 150 billion as a direct result of the report, which resulted in Adani losing its title as the richest Indian company.
According to Adani, who is 62 years old, the article was issued by the US short-seller on the evening before India’s Republic Day.
“The report was a combination of targeted misinformation and discredited allegations, with the majority of them dating from 2004 to 2015,” the author of the report is quoted as saying. At that moment, the competent authorities resolved all of them to everyone’s satisfaction. He stated that the report was a purposeful and malicious attempt to damage our reputation and generate profits by driving down our stock prices in the short term. “This report was a deliberate and malicious attempt,” he claimed.
After then, he made a reference to the expert committee that had been established by the Supreme Court in order to investigate the problem.
Comments are closed.