The Adani Group on Thursday (September 12, 20234) rejected and denied “baseless allegations” over reviews regarding freezing of some funds in Swiss financial institution accounts.
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The Enterprise conglomerate asserted that it has no involvement in any Swiss court docket proceedings, nor have any of the corporate accounts been topic to sequestration by any authority.
The Adani Group mentioned in an announcement that the allegations are clearly preposterous, irrational, and absurd and it’s yet one more orchestrated and egregious try by the identical cohorts performing in unison to inflict injury on the group’s popularity.
“We unequivocally reject and deny the baseless allegations offered. The Adani Group has no involvement in any Swiss court docket proceedings, nor have any of our firm accounts been topic to sequestration by any authority. Moreover, even within the alleged order, the Swiss court docket has neither talked about our group corporations, nor have we acquired any requests for clarification or data from any such authority or regulatory physique,” the assertion mentioned.
“We reiterate that our abroad holding construction is clear, absolutely disclosed, and compliant with all related legal guidelines. These allegations are clearly preposterous, irrational, and absurd. We’ve got no hesitation in stating that that is yet one more orchestrated and egregious try by the identical cohorts performing in unison to inflict irreversible injury on our group’s popularity and market worth,” the assertion added.
In a submit on X, US-based brief vendor Hindenburg Analysis cited a information report by Swiss media outlet Gotham Metropolis and alleged that Swiss authorities have frozen over USD 310 million in funds throughout a number of Swiss financial institution accounts as a part of an investigation into the Adani group.
The Adani Group mentioned it stays steadfastly dedicated to transparency and compliance with all authorized and regulatory necessities and condemned any such effort at baseless allegations.
Printed – September 13, 2024 01:36 am IST
