Wait for stock exchanges to update data at quarter-end: Adani CFO

Adani Group CFO Jugeshinder Robbie Singh on Tuesday said stock exchanges update data on promoter share pledges at the end of the quarter, as he tried to clarify on present data not matching with the conglomerate’s statement of repaying all the USD 2.15 billion of share-backed debt.

Singh termed reports suggesting that the company’s March 7 and 12 announcements did not match with the information available on stock exchanges as “deliberate misrepresentation”.

“…they know that relevant exchanges will update end of quarter,” he said in a Twitter post. “The deliberate subterfuge will be clear to all once exchanges update the data post end of quarter.”