NEW DELHI, Aug 31 — India’s Adani Group hit back Thursday at a new report investigating alleged manipulation of the conglomerate’s share prices, accusing its authors of...
NEW DELHI, Aug 31 — India’s Adani Group hit back Thursday at a new report investigating alleged manipulation of the conglomerate’s share prices, accusing its authors of conspiring to drive down its stocks for profit.
The report said two men who had served as directors in Adani Group companies had spent years trading stock in the conglomerate “through offshore structures that obscured their involvement”. “In light of these facts, the timing of these news reports is suspicious, mischievous and malicious.” He is considered a close associate of Hindu-nationalist Prime Minister Narendra Modi, a fellow native of Gujarat state.
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