- PM Modi visit USAOnly the mirror in my washroom and phone gallery see the crazy me : Sara KhanKarnataka rain fury: Photos of flooded streets, uprooted treesCannes 2022: Deepika Padukone stuns at the French Riviera in Sabyasachi outfitRanbir Kapoor And Alia Bhatt's Wedding Pics - Sealed With A KissOscars 2022: Every Academy Award WinnerShane Warne (1969-2022): Australian cricket legend's life in picturesPhotos: What Russia's invasion of Ukraine looks like on the groundLata Mangeshkar (1929-2022): A pictorial tribute to the 'Nightingale of India'PM Modi unveils 216-feet tall Statue of Equality in Hyderabad (PHOTOS)
Hockey India on Monday announced the 20-member squad for the Men's Junior Asia Cup, a qual
- Harmanpreet Singh named FIH Player of the Year, PR Sreejesh gets best goalkeeper award
- World Boxing medallist Gaurav Bidhuri to flag off 'Delhi Against Drugs' movement on Nov 17
- U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals
- FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup
- Hockey, cricket, wrestling, badminton, squash axed from 2026 CWG in Glasgow
Hindenburg Research: Latest Hindenburg allegations ‘malicious’ and no more than red herrings: Adani Group Last Updated : 11 Aug 2024 01:22:15 PM IST The Adani Group The Adani Group on Sunday vehemently rejected the latest allegations by Hindenburg Research as “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”.
In a stock exchange filing, the Group completely rejected these allegations “which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Honourable Supreme Court in January 2024”.
“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,” said the Adani Group.
A spokesperson from the Adani Group reiterated that the company’s overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents.
“Furthermore, Anil Ahuja was a nominee director of 3i investment fund in Adani Power (2007-2008) and, later, a director of Adani Enterprises until 2017,” said the spokesperson.
The Adani Group said it has “absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing”.
The spokesperson further said that the Group remains “steadfastly committed to transparency and compliance with all legal and regulatory requirements”.
Earlier in the day, the Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and her husband Dhaval Buch strongly denied the allegation levelled by Hindenburg Research against them, calling it a “character assassination attempt” because an Enforcement action and show cause notice was issued to the Nate Anderson-led company last month.
In a statement, they said, “It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same”.
The markets regulator last month said that Hindenburg and Anderson violated regulations under ‘SEBI’s Prevention of Fraudulent and Unfair Trade Practices' regulations, and 'SEBI's Code of Conduct for Research Analyst' regulations.
According to the joint statement issued by the couple, “In the context of allegations made in the Hindenburg Report dated August 10, 2024, against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report”.
"Further, in the interest of complete transparency, we would be issuing a detailed statement in due course,” they added.
Short-sellers like Hindenburg Research could find themselves in hot water, as even the US market regulator, the Securities and Exchanges Commission (SEC), has been tightening its grip.IANS Ahmedabad For Latest Updates Please-
Join us on
Follow us on
172.31.16.186