Company Denies Allegations From Hindenburg Report, Promises Full Transparency

In response to the recent allegations outlined in the Hindenburg Report dated August 10, 2024, the company has issued a strong rebuttal, categorically denying the claims made in the report.

The company’s statement asserts that the allegations and insinuations presented in the report are completely unfounded and lacking in truth. “We strongly deny the baseless allegations and insinuations made in the report. These claims are devoid of any truth,” the statement reads.

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The company emphasized its commitment to transparency, noting that its financial and personal affairs have always been open for scrutiny. “Our life and finances are an open book. All disclosures require by SEBI  been furnish over the years. We have no hesitation in providing any and all financial documents, including those from our period as private citizens, to any authority that may request them,” the statement continued.

The company also highlighted its plans to issue a detailed statement addressing the allegations in due course. “In the interest of complete transparency, we will be issuing a comprehensive statement soon,” the statement confirmed.

Additionally, the company criticized Hindenburg Research, noting that the firm has been subject to enforcement action by SEBI and is currently facing a show cause notice. “It is unfortunate that Hindenburg Research, against whom SEBI has taken enforcement action, has chosen to attempt character assassination in response,” the statement concluded.

Madhabi Puri Buch and Dhaval Buch, who signed the statement, have reaffirmed their commitment to transparency and adherence to regulatory requirements.