During the annual general meeting of Adani Enterprises and Adani Total Gas, Gautam Adani, chairman of Adani Group, assured shareholders that the Supreme Court committee appointed to investigate allegations made by US-based short seller Hindenburg Research found no instance of breach. Adani denounced the Hindenburg report as a deliberate attempt to damage the reputation of the Adani Group and generate profit through short-term stock manipulation. Adani emphasized the group's commitment to good governance and sustainable practices, highlighting the challenges faced by the nation.

Adani further expressed gratitude for the support received from stakeholders and emphasized their confidence in the group's governance and track record, as no agency could diminish their rating even after the Hindenburg report. Despite the crisis, international investors continued to show confidence in the company, with the group raising substantial funds from them. Adani also expressed optimism about the forthcoming report from the Securities and Exchange Board of India (SEBI), which is expected to further strengthen the group's governance standards.

The financial performance of Adani Group companies for the financial year 2022-23 was robust, with significant growth in total EBITDA (operating profit), total income, and profit after tax. Adani Group remains committed to sustainable growth and acknowledges global challenges such as the climate emergency and geopolitical issues. Adani highlighted the potential for progress in various sectors through technological innovation, particularly in the field of artificial intelligence.

In evaluating India's position in the global landscape, Adani urged stakeholders to consider the Adani Group's commitment to sustainable practices and technological advancements as drivers of future growth and development in the country.

[Original Source: Republic World]

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