Adani Enterprises, the flagship company of the Adani Group, told the stock market on Thursday, “We wish to inform that Gautam Adani and Rajesh Adani are individual promoters of various listed companies of the Adani Group and Vinod Adani is a close relative of the individual promoters.” Are.’ It further stated that Vinod Adani is thus part of the promoter group of various listed companies within the Adani Group, as per Indian regulations. Hindenburg questioned the role of 74-year-old Vinod Adani in his report on the Adani Group. It was alleged that he committed manipulation and accounting fraud to inflate the share price.
what did you say before
Adani Group denied the allegations in January, saying Vinod Adani does not hold any managerial position in Adani Group’s listed companies or its subsidiaries and has no role in their day-to-day affairs. According to the information given to the stock market, Vinod Adani is a citizen of Cyprus. After the Hindenburg Research report came out, Adani Group’s shares had fallen heavily for more than a month and the group’s market cap was reduced by $ 150 billion. However, the Adani Group has denied the allegations made in the report.
Source: navbharattimes.indiatimes.com
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