On Sunday, Adani Group issued a rebuttal, saying it complies with all local laws and had made necessary regulatory disclosures. The conglomerate said the Hindenburg report, which it previously said was “baseless”, was intended to enable the US-based short seller to book gains, without citing evidence.
The trouble for the Adani group does not seem to be ending anytime soon. While multi-billionaire Gautam Adani faces possibly his biggest challenge after shares in his companies slumped when a US short seller Hindenburg Research levied massive allegations on their business practices, Trinamool Congress MP and former investment banker Mahua Moitra continued to target the businessman on Twitter.
“Adani Group will have a busy week ahead: 1) dealing with MSCI 2) organizing funds for FPO & 3) propping up Ambuja Cement urgently (given below buy price) with heavy shareholder borrowing & 4) propping up AEL & APSEZ,” Moitra tweeted.
Adani Group will have a busy week ahead:
1) dealing with MSCI
2) organising funds for FPO &
3) propping up Ambuja Cement urgently (given below buy price) with heavy shareholder borrowing &
4) propping up AEL & APSEZ— Mahua Moitra (@MahuaMoitra) January 29, 2023
On Sunday, Adani Group issued a rebuttal, saying it complies with all local laws and had made necessary regulatory disclosures. The conglomerate said the Hindenburg report, which it previously said was “baseless”, was intended to enable the US-based short seller to book gains, without citing evidence.
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Earlier, Mahua had shared old tweets and letters, and wrote: “I Told You So”. The TMC firebrand MP has also targeted the Modi government for its amicable ties with Asia’s richest person.
All I can say is I Told You So 🙂 pic.twitter.com/W1D9EV4UCW
— Mahua Moitra (@MahuaMoitra) January 28, 2023
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