 "'A red herring': Adani Group scraps Hindenburg's fresh allegations | Company News")
Hindenburg’s allegations are no more than red herrings, said the Adani Group. (File Photo)
The Adani group has denied the fresh allegations made by US-based short seller calling it a “red herring”.
In a statement to the stock exchanges on Sunday, an Adani group spokesperson said the latest allegations by Hindenburg are 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.
“It is reiterated that our overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents. Furthermore, Anil Ahuja was a nominee director of the 3i investment fund in Adani Power (2007-2008) and, later, a director of Adani Enterprises until 2017.
The Adani Group has absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing. We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements,” the statement said.
Ahuja, as per Hindenburg report released on Saturday, is the Founder and Chief Investment Officer (CIO) of the Mauritius based IPE Plus Fund. The IPE fund was structured two layers below Global Opportunities Fund, as per Hindenburg.
At the same time, Ahuja was a director of Adani Enterprises where he served three terms spanning nine years ending in June 2017, per his biography and exchange disclosure. Prior to that he was a director of Adani Power.
First Published: Aug 11 2024 | 12:34 PM IST
