Adani Group Shares: Adani Group will take legal action against Hindenburg, know what has been alleged – adani group will take legal action against hindenburg
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The group’s head of legal affairs, Jatin Jalundhwala, said, “Hindenburg Research published the report on January 24, 2023 against the group with malafide intention without any research and full information.” This has adversely affected the Adani Group, our shareholders and investors. The ups and downs brought about in the Indian stock market by the report is a matter of great concern…. He said that the report and its baseless talk is nothing but to harm the prices of shares of Adani group companies. were prepared.
Jalundhwala said, “A foreign entity has made a deliberate and reckless attempt to mislead the investor community and the general public. He has maligned the Adani Group, its leadership and maligned the sale of the FPO (FOLLOW PUBLIC OFFER) of our flagship company Adani Enterprises. We are deeply troubled by his antics.
“We are looking into settlement and punitive action against Hindenburg Research under US and Indian law,” he said. However, the group did not specify whether it plans to sue the company. According to American financial research firm Hindenburg, after two years of its research, it was found that the Adani group had been involved in “blatant stock manipulation and accounting fraud” for decades.
The report comes just ahead of the opening of applications for the Rs 20,000 crore follow-on public offering (FPO) of Adani Enterprises, the flagship company of Adani Group. After this report, the shares of all the listed companies of the group fell heavily. In its statement on Wednesday, the group termed the allegation as completely baseless. He said that this was done with nothing but malafide intention to harm his share sale.
The Adani group has also questioned the timing of the report. It said that the report released just before the FPO clearly shows that it has been brought with malicious intent aimed at reducing the reputation of the Adani Group. She said that she has not been contacted to verify the facts regarding the report and it is shocking and disturbing.
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