Indian tycoon Gautam Adani denounced fraud accusations against his group by a US investment firm as a 'deliberate attempt' to damage its image.
Gautam Adani saw his fortune plummet after Hindenburg's allegations against his conglomerate earlier this year.NEW DELHI - Indian tycoon Gautam Adani on Tuesday denounced fraud accusations against his group by a US investment firm as a"deliberate attempt" to damage its image, at the first annual general meeting since the scandal.
The shares have since recovered some of their losses, but the group's flagship subsidiary Adani Enterprises remains around 30 percent below its price level before the report. He was confident of the group's governance and disclosure standards after a panel set up by India's top court found no"regulatory failure", he added.
There was"little doubt" India would become the world's third-largest economy by 2030, and its second-largest by 2050, he said.
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