Five months after a report by Hindenburg Research lopped off billions of dollars in market value of his empire, Gautam Adani on Tuesday said he remained confident about his firm’s governance and disclosure standards.
The 61-year-old chairman of the ports-to-energy conglomerate told shareholders that the American short-seller’s report in January was “targeted misformation” aimed to damage Adani group’s reputation and misused by “vested interests”.
“The short-selling incident resulted in several adverse consequences that we had to confront. Even though we promptly issued a comprehensive rebuttal, various vested interests tried to opportunistically exploit the claims made by the short-seller. These entities engaged and encouraged false narratives across news and social platforms,” said Adani.
