Allegations preposterous, irrational and absurd: Adani Group

Ahmedabad: The Adani Group on Thursday unequivocally rejected and denied baseless allegations regarding claims by US short-seller Hindenburg Research that Swiss authorities have frozen its funds.

Dismissing the latest allegations, an Adani Group spokesperson denied the baseless claims.

“We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority,” said the company spokesperson.

“Furthermore, even in the alleged order, the Swiss court has neither mentioned our group companies, nor have we received any requests for clarification or information from any such authority or regulatory body. We reiterate that our overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws,” the spokesperson added.

The spokesperson further said that these allegations are “clearly preposterous, irrational, and absurd”.

“We have no hesitation in stating that this is yet another orchestrated and egregious attempt by the same cohorts acting in unison to inflict irreversible damage on our group’s reputation and market value,” said the spokesperson.

The Adani Group remains “steadfastly committed to transparency and compliance with all legal and regulatory requirements”, the spokesperson noted.

Last month, industry experts had slammed earlier Hindenburg allegations as not merely frivolous but cheap antics, saying the US short-seller has nothing substantial to talk about even 18 months later.

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