Adani Group responds to Hindenburg report, calls it #39;malicious#39;

Hindenburg said its report was based on an investigation over two years that involved speaking with dozens of individuals, including former Adani Group executives as well as a review of documents.

Adani Group

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}); }); function redirectToTradeOpenDematAccountOnline(){ if (stock_isinid && stock_tradeType) { window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=$ {stock_isinid}&ex=$ {stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’); } } Adani Group’s Chief Financial Officer, Jugeshinder Singh, said in a statement that the company was shocked by the report, calling it a “malicious combination of selective misinformation and stale, baseless and discredited allegations.””The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming follow-on Public Offering from Adani Enterprises,” it added.Also read: Hindenburg says holds short positions in India’s Adani, flags risks”The Group has always been in compliance with all laws.”