Politics heats up on Hindenburg report, Congress demands RBI-SEBI to investigate allegations against Adani Group
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New Delhi : In recent days, Indian politics has heated up due to the allegations leveled against Adani Group in a report by Hindenburg Research, an American financial research company. India’s main opposition party Congress on Friday demanded an inquiry from the Reserve Bank of India (RBI) and market regulator SEBI on the allegations made by Hindenburg Research on Adani Group. The Congress on Friday said that the Reserve Bank of India and SEBI should investigate the allegations leveled against the Adani Group by American financial research company Hindenburg Research, as the stability and security of India’s financial system is the responsibility of these institutions.
Jairam Ramesh issued a statement
Congress General Secretary Jairam Ramesh has issued a statement on Twitter claiming that there is a close relationship between this business group and Prime Minister Narendra Modi and this group has benefited from it. He said in the statement that generally political parties should not react to any study report about any company or business group, but the Congress’s response to the forensic study of Hindenburg Research regarding Adani Group is necessary. He said that the Adani Group is not an ordinary group, but its identity is due to its proximity to Narendra Modi when he was the Chief Minister.
Hindenburg has put out a damning report on the Adani group which has reacted predictably. Here is my statement on this serious matter that requires a thorough investigation in the public interest. pic.twitter.com/gfmgmKPx4e
Jairam Ramesh (@Jairam_Ramesh) January 27, 2023
What is the charge of Hindenburg
The Hindenburg Research report has accused the group led by industrialist Gautam Adani of being involved in “open stock manipulation and accounting fraud”. After the allegation, there was a big fall in the shares of Adani Group’s listed companies related to diversified business. Adani Group on Thursday said it is exploring legal options to seek “punitive action” against US financial research firm Hindenburg Research for acting “indiscriminately” in an attempt to sabotage share sales of its flagship company. Used to be. At the same time, American financial research company Hindenburg Research said that it stands by its report.
Adani Group warns of legal action
A day after the release of the report, Adani Group issued a brief statement warning of legal action. Hours later, Hindenburg wrote on Twitter that the Adani group had not answered any of the 88 direct questions raised in the report. The company also said that if the Adani Group is serious, it should also file a lawsuit in the US, where we operate. We have a long list of documents to be sought during the legal process.
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