The Adani Group has described Hindenburg’s allegations as false and ulterior motive.
Hindenburg is a famous US based investment research firm. The agency regularly investigates and publishes reports on financial and governance irregularities in the world’s largest corporations. Its reports are believed to play an important role in exposing fraud and protecting investors.
In this situation, India’s Adani Group has been involved in financial irregularities for several years, the Hindenburg Institute issued a report early last year. As a result, the shares of Adani Group companies suffered a major decline. As a result, the Adani Group suffered a loss of several thousand crores.
However, in a case filed seeking to investigate the veracity of the Hindenburg report, the Supreme Court ruled that the case against the Adani Group should be investigated by the Securities and Exchange Commission (SEBI). Meanwhile, the Hindenburg Research Institute posted on ‘X’ site yesterday that “a big event is about to happen in India soon”.
In this situation, the Hindenburg Institute has published a report that the head of the Securities and Exchange Commission of India, SEBI, Matabi Puri Buch, along with her husband, bought tens of thousands of shares in foreign companies involved in the Adani Group corruption case.
Adani Group has denied Hindenburg’s allegations while the report has created quite a stir. In this regard, the Adani Group said in a statement, “We completely deny Hindenburg’s allegations against Adani Group. Hindenburg’s allegations are false, premeditated and baseless.
Our foreign investments are transparent. “The Supreme Court rejected Hindenburg’s allegations as lacking in substance,” it said.
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