Five months after a bombshell short seller report lopped off billions of dollars in market value of his empire, Gautam Adani has reiterated that his ports-to-energy conglomerate remains confident in its governance and disclosure standards.
In the annual report of group’s flagship firm Adani Enterprises Ltd, the Adani Group chairman said a Supreme Court-appointed panel of experts found no regulatory failure.
Hindenburg Research on January 24 accused Adani of “brazen stock manipulation and accounting fraud” as well as using “labyrinthian network” of shell companies for surreptitious money movements, allegations that the conglomerate has strongly denied, calling the report “a calculated attack on India”.
