Hindenburg Report: Adani gave a 413-page reply, told the report a ‘white lie’, said- it is an attack on India

Adani Group said that this is not just an attack on a specific company, but a well-planned conspiracy.

The Adani Group on Sunday responded to a report by New York-based Hindenburg Research. The Adani Group compared the allegations against its companies to a ‘systematic attack on India’.

Planned attack on India – Adani Group

In response to the 106-page Hindenburg Research report, the Adani group gave a reply of 413 pages. Adani Group said, “This is not just an unwanted attack on a specific company, but a well thought out conspiracy. It is an attack on the independence, integrity and quality of India, Indian institutions and India’s growth story and ambition.”

On the Hindenburg Research report two days ahead of the FPO by Adani Enterprises Ltd, the group said, “The malicious intent contained in the report is clear considering its timing when Adani Enterprises Ltd is undertaking the largest public offering of equity shares in India.”

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When Adani Group announced to plant 10 crore trees, the Congress leader said that it should not become a jumla like Modi ji’s promises.

Adani Group’s response states that the Hindenburg Report is neither independent nor objective nor well-researched. Adani Group is in compliance with all applicable laws and regulations. Adani Group said the report is a malicious combination of selective misinformation and hidden facts relating to baseless and defamatory allegations to drive an ulterior motive.

Not much is known about the Hindenburg investors.

Questioning the credibility of Hindenburg Research, Adani Group said, “The irony is that for an organization that seeks transparency and openness, not much is known about Hindenburg or its employees or its investors. Its website alleges that the organization has experience that spans decades and yet it appears to have been established only in 2017. Hindenburg’s connection to the plane crash.

Adani Group shares witnessed heavy selling since the release of the Hindenburg Research report on January 24. In the last two trading sessions on Wednesday and Friday, Adani’s 10 listed companies lost Rs 4.17 lakh crore in market cap.

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