12 august 2024 : Following the inquiries raised by Hindenburg Research, which questioned potential conflicts of interest and suggested that SEBI was hesitant to act against the Adani Group due to its chairperson Madhabi Buch’s investments in the company’s offshore entities, the conglomerate vehemently denied these assertions, labeling them as “malicious, mischievous, and manipulative.”
In a statement to the exchange, the Adani Group asserted: “The recent allegations put forth by Hindenburg are nothing more than malicious, mischievous, and manipulative interpretations of publicly accessible information, aimed at reaching pre-determined conclusions for personal gain, while showing a blatant disregard for both facts and legal standards. We categorically reject these claims against the Adani Group, which are merely a rehash of discredited allegations that have been thoroughly examined, proven unfounded, and previously dismissed by the Hon’ble Supreme Court in January 2024.”