Some groups, individuals working overtime to harm our name, goodwill: Adani Group

New Delhi, Oct 16

The Adani Group has said that the recent developments corroborates the Group's statement of October 9 that some groups and individuals have been "working overtime to harm our name, goodwill, and market standing".

"In this particular case, the lawyer's complaint reveals that this arrangement to besmirch the reputation and interests of the Adani Group and our Chairman Mr. Gautam Adani has been in place since 2018," a spokesperson for Adani Group said, citing the complaint filed by Supreme Court lawyer Jai Anant Dehadrai with the CBI against Trinamool Congress MP Mahua Moitra and Darshan Hiranandani, CEO of Hiranandani Group, wherein it has been reportedly alleged that the Moitra and Hiranandani were "specifically targeting, Gautam Adani and his group of companies through parliamentary questions".

"In a shocking development, on Sunday, 15 Oct 2023, a Supreme Court lawyer Jai Anant Dehadrai, filed a complaint with the CBI in the form of a sworn affidavit bringing on record the commission of an elaborate criminal conspiracy by MP Mahua Moitra and Darshan Hiranandani, CEO of Hiranandani Group, for specifically targeting, inter alia, Gautam Adani and his group of companies through parliamentary questions. He (the laywer) has further stated that, as a quid pro quo, Moitra received bribes and undue favours from Hiranandani," Adani Group said in a statement.

"We also understand that another MP has forwarded the complaint to the Speaker of the Lok Sabha asking that MP Moitra be suspended and probed for corruption. The complaint is in wide circulation in the public domain and has also been extensively covered today in the media," the statement said.

On October 9, Adani Group said it had apprised the public, through a media statement and exchange filings, that "some foreign entities like the OCCRP, supported by a section of the foreign media, short-sellers and domestic collaborators, have launched a series of attacks against the Adani Group with the primary intent of dragging down its market value. In fact, these individuals and groups, bound by the common objective of damaging the Adani Group, have developed a playbook which is being executed to perfection by a well-oiled and professional machinery working in sync both within India and abroad".

"We also pointed out that one tactic in their playbook includes putting out media reports with 'an uncanny ability to appear just before the hearing dates of important cases in India's courts'. True to predicted form, the Financial Times published a story recycling baseless allegations against the Adani Group on October 12, 2023, just a day before the hearing of an Adani-related case in the Supreme Court. We are issuing this statement in the interest of all our stakeholders, including our shareholders," the spokesperson said.