Adani Group calls Swiss Media Report “Baseless, Irrational, and Absurd Allegations

US short seller Hindenburg Research made a claim on X that Swiss media outlet ‘Gotham City’ accessed Swiss criminal court records to suggest that an “Adani frontman invested in opaque funds that almost exclusively owned Adani stocks.” In response, the Adani Group issued a statement refuting the allegations, calling them baseless, preposterous, irrational, and absurd. The group stated that they have no involvement in any Swiss court proceedings and that none of their company accounts have been subject to sequestration by any authority. They emphasized that their overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws.

The group expressed their firm commitment to transparency and compliance with legal and regulatory requirements, and condemned the allegations as an orchestrated attempt to damage their reputation. They urged the public to refrain from publishing the story and requested that their statement be included in full if the story proceeds. The Adani Group also disclosed that New Delhi Television is a subsidiary of AMG Media Networks Limited, which is an Adani Group Company.