Adani Group Denounces Hindenburg's Allegations as Baseless

Adani Group has categorically rejected the latest accusations leveled by US short-seller Hindenburg Research, calling them malicious, mischievous, and manipulative.

The conglomerate emphasized that it has no commercial relationships with SEBI chairperson Madhabi Puri Buch or her husband, countering Hindenburg's claims.

The group stated that these allegations are a recycling of previously discredited claims that have been thoroughly investigated and dismissed by the Hon'ble Supreme Court in January 2024.

Hindenburg alleged that SEBI head Madhabi Puri Buch and her husband invested in offshore funds associated with the Adani Group, predating her SEBI appointment. The Adani Group stated its overseas holding structure is fully transparent and compliant with legal and regulatory requirements.

The response branded Hindenburg's accusations as red herrings meant to deflect scrutiny away from their own legal troubles.

(With inputs from agencies.)