‘Fraud is fraud’, ‘Fraud cannot be obfuscated by nationalism’: Hindenburg’s response to Adani
US-based research company gave a counter statement after Gautam Adani and the group likening the damaging allegations by the US-based research company to a “calculated attack” on India.
The US-based investment research firm said the Adani Group “predictably tried to lead the focus away from substantive issues and instead stoked a nationalist narrative.”
The response said- The Adani group has “attempted to conflate its meteoric rise and the wealth of its Chairman, Gautam Adani, with the success of India itself.”
“We disagree. To be clear, we believe India is a vibrant democracy and an emerging superpower with an exciting future. We also believe India’s future is being held back by the Adani Group, which has draped itself in the Indian flag while systematically looting the nation.”
“We also believe that fraud is fraud, even when it’s perpetrated by one of the wealthiest individuals in the world,” it further stated.