Key Points
US short-seller Hindenburg Research's damning report against the Adani group was not just to destabilise the apples-to-airport conglomerate but to also politically defame India's governance practices, said Gautam Adani, chairman of Adani Group..
In January last year, Hindenburg published a report alleging malfeasance by the Adani Group..
The allegations included cooking books of accounts, over-invoicing of import costs and round-tripping of own money to push up share prices..
A school drop-out, Adani started out as a commodities trader and rose to become Asia's richest person with an empire spanning across ports, power generation, airports, mining, renewables, gas, data centres, media and cement...
"Number 3, the dynamic model of a fast-growing nation like ours requires a flexible approach that is rooted in local models as against models that often emphasise specialisation and core competencies," he said, adding the crux of strategic differentiation often lies in recognising the limitations of bookish knowledge and western-centric models...
