Gautam Adani: Adani is looting the country
while draped himself in Indian Flag
The war between Hindenburg and
Adani is not going to end, the Hindenburg is stick with there report while
Adani response is something else. Adani claimed it false propaganda.
Adani releases a 413-page report
outlined numerous issues of suspected fraud at the Adani Group, the second
largest business man in India run by worlds seventh richest man.
What Hindenburg said toady?
As per the Hindenburg, Adani also
claimed that Hindenburg research has committed a flagrant breach of applicable
securities and foreign exchange laws. But Hindenburg said that Adani’s failure to identify any such laws,
this is another serious accusation by Adani's that we categorically deny.
Furthermore, it attempted to
shift the conversation away from important concerns and toward a nationalist
narrative by asserting that our research amounted to a "planned attack on
India." In essence, the Adani Group has made an effort to link the
prosperity of India with its own rise to prominence and the fortune of its
chairman, Gautam Adani.
We are at odds. To be clear, we think India is a thriving democracy and a superpower on the rise with a promising future. We also think that the Adani Group, which has drape itself in the Indian flag while simultaneously looting the country, is holding back India's development.
We also think that fraud is fraud, even if it's committed by one of the richest people on the planet.
Our Reply To Adani:
— Hindenburg Research (@HindenburgRes) January 30, 2023
Fraud Cannot Be Obfuscated By Nationalism Or A Bloated Response That Ignores Every Key Allegation We Raisedhttps://t.co/ohNAX90BDf
Adani's "413 page"
answer was actually only about 30 pages long and covered topics that were
relevant to our research.
The remainder of the response was
made up of 53 pages of high-level financial information, general information,
and details on unrelated company activities, such how it supports female
entrepreneurship and the production of safe veggies, coupled with 330 pages of
court records.
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