Hindenburg allegations no more than red herrings thrown by a desperate entity: Adani Group

Following fresh allegations dragging the role of Sebi chief Madhabi Puri Buch and her husband in the Hindenburg case, the Adani Group on Sunday issued a statement saying they have absolutely no commercial relationship with the individuals and that the claims are no more than red herrings thrown by a desperate entity.

“The latest allegations by Hindenburg are malicious, mischievous and manipulative selections of publicly available information to arrive at pre-determined conclusions for personal profiteering with wanton disregard for facts and the law. We completely reject these allegations against the Adani Group which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Hon’ble Supreme Court in January 2024,” the Adani Group said in a statement.

Apparently referring to the Buch family, it said: “The Adani Group has absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing. We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements.”

“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 statement said.

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