Committed to laws in all mkts: Adani

Mumbai: The inquiries by two American regulators started after US short-seller Hindenburg published a detailed report this January 24 on Adani Group in which it alleged that the conglomerate, among other things, had used offshore companies to manipulate its stock price, cooked its books and other corporate malfeasance.

Reports said that not all inquiries by law enforcement agencies in the US lead to full-fledged investigations. Reacting to the report, an Adani Group spokesperson said that the group was ‘strongly committed’ to follow all laws and regulations in all the markets it has presence.

Within five weeks since the Hindenburg Research report was published, which Adani Group had trashed terming it “nothing short of a calculated securities fraud”,