Adani Enterprises Annual General Meeting (AGM): Gautam Adani Refutes Hindenburg’s Report as Attempt to Tarnish Reputation..
Gautam Adani, the eminent chairman of the Adani Group, vehemently dismissed the report from the US-based short-seller, Hindenburg Research, during the 31st AGM of Adani Enterprises… He characterized the report as a concoction of targeted misinformation and discredited allegations aimed at sullying the company’s sterling reputation…
Speaking in a video message on Tuesday, Gautam Adani candidly addressed the matter, without explicitly mentioning the name of Hindenburg, founded by Nathan Anderson… “This year, a US-based short-seller attempted to short our stocks just as we were gearing up to launch the largest follow-on public offering in India’s history,” he disclosed…
The distinguished industrialist, who once held the prestigious title of the third-richest person globally and the wealthiest Asian, when the report surfaced, further declared, “The report comprised a mix of targeted misinformation and discredited allegations, many of which date back to 2004 to 2015. However, it is crucial to note that authorities had already resolved all these matters at that time. It was an outright malicious and premeditated endeavor with the sole intention of causing harm to our reputation...”
The report, which was published in January, leveled serious allegations against the Adani Group, labeling it as the orchestrator of the ‘greatest corporate deception in history.’ Gautam Adani and his billionaire establishment have consistently denied these charges. ..
The allegations sparked a significant political uproar in India, with opposition parties coming together to demand a joint parliamentary committee (JPC) investigation while questioning the perceived ‘silence’ of Prime Minister Narendra Modi, who hails from the same state of Gujarat and shares a history with Adani…
In contrast, the government repeatedly rejected the opposition’s calls for a JPC and vehemently denied any allegations of ‘favoring’ the esteemed businessman…
The Securities and Exchange Board of India (SEBI) and a Supreme Court-appointed expert committee are independently probing the matter…
In the wake of these events, Gautam Adani’s net worth has experienced a notable decline, causing him to fall behind Mukesh Ambani of the Reliance Group and China’s Zhong Shanshan, ranking him among the most affluent individuals in Asia…
