Indian tycoon Adani slams ‘malicious’ Hindenburg report:
Gautam Adani denounced the fraud allegations today at the first AGM since the scandal.
freemalaysiatoday.com/category/business/2023/07/18/indian-tycoon-adani-slams-malicious-hindenburg-report/
Adani rejects Hindenburg allegations as deliberate attackAt the first annual general meeting since the scandal, Adani reported 85% growth in group income during the last financial year.
Key FactsJul 18, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: freemalaysiatoday.com
Summary created with AI assistance · Source: freemalaysiatoday.com
- In January, Hindenburg Research accused the Adani Group of manipulating stock prices through offshore tax havens.
- Adani’s fortune temporarily fell by more than US$100 billion, while Adani Enterprises remains about 30% below its previous price level.
- Adani said he remained confident in governance and disclosure standards after a court-appointed panel found no regulatory failure.
- According to Adani, the group raised several billion from international investors while no credit agency lowered its ratings.
This report was a deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices.— Gautam Adani at the Adani Enterprises annual general meeting
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Indian tycoon Adani slams ‘malicious’ Hindenburg report: Gautam Adani denounced the fraud allegations today at the first AGM since the scandal.
freemalaysiatoday.com/category/business/2023/07/18/indian-tycoon-adani-slams-malicious-hindenburg-report/
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Gautam Adani calls the Hindenburg report as a mix of distorted facts and refuted claims, crafted to sabotage their reputation ... Show more
https://www.youtube.com/watch?v=if0ROfz5PaE
https://www.youtube.com/watch?v=if0ROfz5PaE
Adani AGM: गौतम अडानी ने कहा- हम पर लगे झूठे आरोप लेकिन निवेशकों ने नहीं छोड़ा भरोसा, ग्रुप की रेटिंग में नहीं हुई कटौती
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Hindenburg report deliberate, malicious attempt to damage reputation: Adani: Adani Hindenburg Report: Gautam Adani added that the Securities and Exchange Board ...
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Malicious attempt aimed at damaging our reputation: Adani on Hindenburg report: Addressing the group's Annual General Meeting 2023 live, Gautam Adani said ...
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Gautam Adani: "Hindenburg Report False, Confident Of Our Group's Governance"
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Key FactsUS Charges Indian Billionaire in Major Bribery Case
Nov 24, 2024 · Reading time: ~45 sec.
Summary created with AI assistance · Source: independent.co.uk
Summary created with AI assistance · Source: independent.co.uk
- Gautam Adani and seven associates are accused of bribing Indian officials and misleading investors by concealing the scheme.
- The indictment includes conspiracy to commit securities and wire fraud and obstruction of investigations launched in 2022.
- Between 2020 and 2024, Adani's group secured renewable energy contracts expected to generate over $2 billion in profits.
- The Adani Group denies all allegations, while Indian financial markets experienced significant volatility following the charges.
When a top ranking Indian businessman is indicted by a foreign country, it tarnishes our image at the global stage.— The president of the Indian National Congress party, Mallikarjun Kharge, commented on the implications of the indictment against Gautam Adani.
Adani scales back after Hindenburg’s bombshell: Putting debt-driven diversification on hold is now seen as key to restoring confidence.
freemalaysiatoday.com/category/business/2023/03/30/adani-scales-back-after-hindenburgs-bombshell/
Key FactsAdani Reportedly Curbs Expansion After Hindenburg Allegations
Mar 30, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: freemalaysiatoday.com
Summary created with AI assistance · Source: freemalaysiatoday.com
- People familiar with internal discussions say the group is pulling back from petrochemicals and is unlikely to pursue the planned US$4 billion Mundra project.
- According to the same people, Adani plans to focus on power generation, ports and newer renewable-energy projects.
- After selling family shares to prepay US$2.15 billion, Adani plans to avoid similar high-risk, share-backed financing.
- Internal plans call for reducing net debt to EBITDA from the current 3.1 to as low as 2.5.
There’s good reason to believe the company will draw back a bit in order to focus on damage control and other shareholder and wider investor concerns," said Michael Kugelman, director of the South Asia Institute at the Washington-based Wilson Center. "Reputational considerations are critical.— Michael Kugelman, director of the South Asia Institute at the Washington-based Wilson Center, commenting on Adani's strategy after the Hindenburg report
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