copy pasting my reply from another sub-
Am I weird or is the response like.. really bad. Elementary level shit.
All they are saying for all the allegations is that either the matter has been disposed off by courts or sebi etc, or mostly just outright denying the allegations without proof.
Just as an example- on the allegation of Adani working with Ketan Parekh in its stock manipulation , Adani responds (pg 30/414)-
"The allegation in relation to Ketan Parekh working with Adani companies are incorrect. This matter has been disposed of by SEBI on 17th April 2008 and has also been duly disclosed by us in the public domain."
But Hindenburg has actually linked the exact same order by SEBI which infact holds Adani guilty of stock manipulation.
The order reads-
"Investigations carried by the scrip of Adani exports limited (hereinafter called the company) revealed that there was an association between Ketan Parekh group of entities and Adani group to which the appellant belong. It was noticed that there was movement of shares from Adani group to Ketan Parikh entities and vice-a-versa and that there was also movement of funds to and fro from Adani group of companies to Ketan Parikh entities. On a detailed enquiry conducted by the Board it was established that various market irregularities/illegalities had been committed during the course of the trading in the scrip of the company. The Board by impugned order imposed the penalty on the appellants belonging to the Adani group and restrained them from accessing the capital market as aforesaid."
Link to the order if anyone's interested.
How the hell is adani referring to the exact same report and claiming its clean. Is he literally expecting no ones gonna check.. it literally took me 2mins... wtf.
This report is legit more damning because it proves Adani actually has no leg to stand on and is blaberring shit hoping it sticks.
PS: People clinging on the length of the response - Adani's justifications are literally 50 odd pages. Rest 360 pg are just annexures and entire court orders which are honestly not even useful and just muddying the water.