: Recently, in the report of the American investment research company “Hindenberg Research”, sensational allegations were brought forward one after another about the Indian billionaire Gautam Adani. Where it is claimed that the Adanis have increased their wealth through “fraud”. Not only that, the report also claimed that Indian billionaire Gautam Adani had rigged and increased the share price (stock manipulation).
In this case, naturally several questions have arisen since this allegation. Even, the stock market has been disturbed. According to the information received in this context, it is known that the share price of Adani has continuously decreased till the opening of the market on Monday. As a result of which the organization has faced a huge loss in a shock.
Not only that, after the publication of the Hindenburg report, the total wealth of Gautam Adani, the leader of the Adani group and currently the richest person in Asia, has decreased a lot. As a result of which Adani has dropped from the fourth place to the seventh place in the list of the world’s richest people.
What Adani Group said: Meanwhile, the Adani Group has dismissed all allegations in view of the sensational claims of Hindenburg, an American investment research firm. Not only that, this time they have brought a counter-charge against that company. In this situation, the Adani Group claimed that the report constituted a “planned attack” on India. Even, they added, Hindenburg’s main objective was to defame the Indian organization by fabricating false allegations.
Basically, Hindenburg claimed in their report, CFOs of several Adani Group companies have resigned in the past few years. However, the Adani Group has claimed that this information is completely baseless and said that the executives are still associated with the company. Also, none of them resigned and took on greater responsibilities.
Let it be said in this context that Hindenburg’s report was a total of 32 thousand words. In such a situation, in view of that report, Adani replied 413 pages. It has already been reported by Adani Group last Sunday that the American company’s complaint is completely false and baseless. Not only that, out of the 88 questions asked by Hindenburg, the answers to 68 questions have already been published in the annual reports of various organizations.
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Meanwhile, the Adani Group claimed that the questions were made to divert public attention. Besides, it is also reported that the American agency has no idea about the Indian legal system. Even, they are unaware of how the process of raising capital in the Indian market proceeds. Several examples have also been given by Adani in this context.