LUCKNOW: Bahujan Samaj Party Chief Mayawati on Saturday said the central government should clear the air over financial irregularities and allegations levelled by Hindenburg Research against the Adani Group.
Hindenburg Research, a US-based investment research conglomerate that specialises in activist short-selling, has alleged that Adani Group was ''engaged in a brazen stock manipulation and accounting fraud'', a charge the company described as malicious, unsubstantiated, one-sided and having done with malafide intention to ruin its share-sale.
“For the past 2 days, a negative report of American company Hindenburg in relation to Adani Group and its effects on stock market etc is in discussions more than the Republic Day. The hard-earned money of crores of people of India is involved but the government is silent.'' ''After the allegation of cheating and so on in shares, Adani's property and world ranking has decreased, but people are more concerned about what will take plae to the massive investment made by the government in his group. What will happen to the economy? Restlessness and worry is natural. The solution is needed. The BSP chief asked the government to clear the air by issuing a statement to “address the worries of the people”' Mayavati said in a series of tweets.
She went on to say, ''At the starting of the budget session of Parliament from January 31, the government should issue a detailed statement on this matter in Rajya Sabha and Lo Sabha so that the restlessness, especially among the urban middle class, is reduced,'' she added.
Hindenburg claims that its two-year research uncovered that "the Rs 17.8 trillion (USD 218 billion) Indian conglomerate Adani Group has participated in a brazen stock manipulation and accounting fraud scheme over the course of decades." Adani Group expressed surprise that the report was released without any attempt to contact it to obtain the factual matrix. "The article is a vicious blend of selective falsehoods and stale, unsubstantiated, and discredited charges that have been tried and rejected by India's highest courts," Adanbi part said in a statement.
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