Adani Group | All Hindenburg allegations are false, Mauritius government gives clean chit to Adani group

File Photo Mumbai: Mauritius government has given relief to the crisis-hit Adani group after Hindenburg’s report. Mauritius’ Financial Services Minister has told Parliament that the Hindenburg report alleging fraud in the country by the Adani Group is false and untrue. A member of the Parliament of Mauritius questioned the government regarding the allegations made in the Hindenburg Report. Responding to a question on whether companies would have to follow the rules, Financial Services Minister Mahen Kumar Siruttan said Mauritius’s laws do not allow shell companies of any kind. Sirutan said all global companies seeking a license from the Financial Services Commission (FSC) would have to comply with the rules. Because the commission has a bad eye on them. Adani Group has not violated any rule so far. Mauritius’ Minister of Financial Services said the FSC had investigated the Hindenburg report. However, due to legal confidentiality, its details cannot be disclosed. Earlier, FSC CEO Dhaneshwarnath Thakur had clarified that no irregularities were found in the valuation of all Adani Group companies in Mauritius. Adani Group also denied the allegations American short seller Hindenburg Research said in its report released on January 24 that billionaire Ghulam Adani has used shell companies set up in Mauritius to manipulate the share prices of his listed companies. Adani Group has also denied these allegations. Now the Government of Mauritius has also termed this report as false and untrue.