Synopsis: The Adani Group firmly denied allegations made by Hindenburg Research, claiming that the conglomerate is involved in Swiss court proceedings with its accounts being frozen. The group emphasized that none of its accounts have been subject to sequestration and reiterated its commitment to transparency and compliance with legal requirements.
In response to new allegations by Hindenburg Research, the Adani Group has categorically denied any involvement in Swiss court proceedings or the freezing of its accounts.
The accusations, which stemmed from a report by Swiss media outlet Gotham City, claimed that Swiss authorities had frozen over $310 million in six accounts linked to the Adani Group as part of an investigation into money laundering and securities forgery.
According to the Adani Group spokesperson, these allegations are entirely baseless.
The company stated that no sequestration has occurred, nor have any of its group companies been mentioned in any orders from Swiss authorities.
The spokesperson further emphasized that the company had not received any formal requests for clarification or information from any regulatory body.
"We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority. Furthermore, even in the alleged order, the Swiss court has neither mentioned our group companies, nor have we received any requests for clarification or information from any such authority or regulatory body. We reiterate that our overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws," said the Adani Group representative.
The group has described the claims as "preposterous, irrational, and absurd," accusing Hindenburg Research and its partners of orchestrating a deliberate attempt to harm the company’s reputation and market value.
The spokesperson further reinforced that the Adani Group is committed to upholding transparency, as well as legal and regulatory compliance.
The new claims by Hindenburg Research reference the Gotham City report, which alleges that Swiss authorities have been investigating the Adani Group for potential wrongdoing dating back to 2021, even before Hindenburg’s initial accusations.
The report also mentioned the involvement of opaque Mauritius and Bermuda-based funds that, according to prosecutors, were used by the Adani Group to hold its own stock.
In conclusion, Adani Group has strongly rejected Hindenburg Research's fresh accusations regarding its involvement in Swiss court proceedings and account freezes.
By reiterating its transparency and legal compliance, the conglomerate refuted the claims, labeling them as an orchestrated attempt to harm its reputation.
The group continues to affirm its commitment to regulatory and legal standards.
Disclaimer: The details provided in this article are based on public statements and reports. Readers are advised to verify facts independently. The content does not constitute legal or financial advice.
.jpg)