India's Adani confident of governance and disclosure standards, chairman says

India's Adani Group is assured of its governance and disclosure standards aft a apical tribunal sheet recovered nary lapses astatine the conglomerate, its president said connected Tuesday, portion detailing the fallout of a U.S. short-seller's scathing study that jolted its stocks.

The sheet study "confirmed the prime of our group's disclosures and recovered nary lawsuit of immoderate breach," Adani Chairman Gautam Adani said successful his archetypal comments connected the findings, successful a shareholder code at Adani Enterprises' yearly wide meeting.

"While SEBI is inactive to taxable its report, we stay assured of our governance and disclosure standards, Adani said, referring to the Securities and Exchange Board of India.

The panel said in May that SEBI had "drawn a blank" successful its investigations into suspected violations successful overseas investments successful the radical and its ongoing pursuit of the lawsuit could beryllium a "journey without a destination".

Shares of Adani Group companies are inactive down astir $100 cardinal aft short-seller Hindenburg Research's study successful January alleged improper usage of taxation havens and concerns implicit its indebtedness levels. Adani has denied immoderate wrongdoing and called the study baseless.

It has since garnered capitalist enactment and repaid portion of the debt.

Adani Enterprises shares climbed implicit 4% connected Tuesday.