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Adani Group responds to Hindenburg report, calls it 'malicious'

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.

January 27, 2023 / 09:39 AM IST
Adani Group

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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 readHindenburg says holds short positions in India's Adani, flags risks

"The Group has always been in compliance with all laws."