BENGALURU -- Indian billionaire Gautam Adani on Tuesday blamed "vested interests" for spreading "false narratives" about his sprawling conglomerate after allegations of financial impropriety by short seller Hindenburg Research earlier in the year caused shares in his companies to crash.
"The short-selling incident resulted in several adverse consequences that we had to confront ... various vested interests tried to opportunistically exploit claims made by the short seller," Adani wrote in a letter to shareholders published in the annual report of his group's flagship company, Adani Enterprises, on Tuesday. "These entities engaged and encouraged false narratives across various news and social media platforms."
