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Gautam Adani

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Gender Male
Age 61
Date of birth June 24,1962
Zodiac sign Cancer
Born Ahmedabad
India
Net worth9. 3 billion USD (2019)
Forbes
ResidenceAhmedabad
Gujarat
India
Spouse Priti Adani
Children Karan Adani
Jeet Adani
Job Businessperson
Education Sheth C N Vidyalaya
Gujarat University
Seth C. N. Vidhyalay
Height 167 (cm)
Siblings Vinod Adani
Mahasukh Adani
Rajesh Shantilal Adani
Vasant S. Adani
Parents Shantaben Adani
Shantilal Adani
FoundedAdani Power
Adani Group
Adani Enterprises
Adani Ports & SEZ
GrandchildrenAnuradha Karan Adani
Full nameGautam Shantilal Adani
NationalityIndian
Date of Reg.
Date of Upd.
ID528274
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Gautam Adani Life story


Gautam Shantilal Adani is an Indian billionaire industrialist who is the founder and chairman of Adani Group, a multinational conglomerate involved in port development and operations in India. Adani has been described as being close to the Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party.

Adani Group says Hindenburg fraud claim 'calculated attack on India'

Jan 29,2023 11:31 pm

By Peter HoskinsBusiness reporter

The company owned by Asia's richest man Gautam Adani has issued a detailed rebuttal of allegations of wrongdoing by short seller Hindenburg Research .

, which runs to More Than 400 pages, Adani Group says The Report is a " calculated attack on India".

Later on Sunday, Hindenburg said " Adani failed to specifically answer 62 of our 88 questions" detailed in its report.

Adani Group , an Indian conglomerate, had More Than $50bn ($40. 4bn) wiped off its stock market value last week.

It also said that it had complied with all local laws and had made the necessary regulatory disclosures.

" All transactions entered into by us with entities who qualify as 'related parties' under Indian laws and accounting standards have been duly disclosed by us, " Adani Group said in a 413-page document issued late on Sunday.

It went on to accuse The Hindenburg report of being intended to enable the US-based short seller to book gains, without citing evidence.

" This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short seller, to book massive financial gain through wrongful means at the cost of countless investors, " it added.

" Short-selling" is when someone bets against a company's share price in The Expectation that it will Fall .

: " To be clear, we believe India is a vibrant democracy and an emerging superpower with an exciting future. "

" We also believe India's future is being held back by the Adani Group , which has draped itself in The Indian flag while systematically looting The Nation . "

It Comes as Adani Group 's flagship firm, Adani Enterprises, is This Week pushing ahead with a $2. 5bn share sale.

Last week, a report published by Hindenburg questioned the Adani Group 's ownership of companies in offshore tax havens such as Mauritius and The Caribbean .

It also claimed Adani companies had " substantial debt" which put the entire group on a " precarious financial footing".

But on Thursday, Adani Group said it was evaluating " remedial and punitive action" against Hindenburg Research in the US and India.

Adani said it had always been " in compliance with all laws".

Also on Thursday, Hindenburg responded to Adani's comments, saying The Firm had not addressed " a single substantive issue we had raised".



Source of news: bbc.com

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