Newsinc24 Team Adani Group has rejected the latest allegations by Hindenburg Research, calling them “malicious, mischievous and manipulative”. The US-based short-seller firm on Saturday claimed that whistleblower documents show Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch had a stake in the obscure offshore entities used in the "Adani money siphoning scandal". In a statement on Sunday, the Adani Group said the latest allegations are "recycling of discredited claims" that have been proven baseless in court.The conglomerate accused the firm of arriving at pre-determined conclusions for "personal profiteering'.
The group said its overseas holding structure was fully transparent, with all relevant details disclosed regularly in numerous public documents. The statement further said that the Adani Group has no commercial relationship with the Sebi chief or her husband Dhaval Buch. It further accused the American company of carrying out deliberate efforts to "malign our standing" "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," the group said in an exchange filing.
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