Ahmedabad: Hindenburg Research’s report was not merely a critique of the Adani Group; it was a direct challenge to the audacity of Indian enterprises to dream on a global scale, Gautam Adani, Chairman of the Adani Group, said on Wednesday.
In a letter to the shareholders, the billionaire industrialist said that January 24, 2023, will be remembered as a morning when India’s markets awoke to headlines that reverberated far beyond Dalal Street.
“For your Group, it marked the beginning of a test that pushed every dimension of our resilience. It questioned our governance, our purpose and even the very idea that Indian companies could dare lead the world in scale and ambition,” Gautam Adani emphasised.
Last week, the Securities and Exchange Board of India (SEBI) delivered a resounding and unequivocal verdict dismissing the allegations against the Adani Group and its officials.
“With SEBI’s clear and final word, truth has prevailed or like we had always said -- truth alone will prevail. What was meant to weaken us has instead strengthened the very core of our foundations,” said the Adani Group Chairman.
He further stated that this moment is more than a regulatory clearance, it is a powerful validation of the transparency, governance and purpose “with which your company has always operated. And the truest evidence of our resilience lies not in words, but in performance over this period”.
“What was intended to hurt us has instead become a defining inflection point by fortifying our foundations, sharpening our ambition and reaffirming our responsibility to build with scale, speed and resilience for India’s future,” Gautam Adani noted.
However, even as the storm raged, “I remained acutely aware of the anxiety it created for our investors, lenders, suppliers and partners”.
“It was your trust that steadied us, your patience that sustained us and your belief that emboldened us. For this extraordinary support, I am profoundly grateful,” Gautam Adani highlighted.
The Adani Group Chairman said that looking ahead, the Group will further strengthen governance standards that inspire confidence across markets and regulators; accelerate innovation and sustainability, setting benchmarks not just in India but globally; and double down on nation building, investing in infrastructure that powers India’s long-term growth story.
“Let this moment not merely restore confidence. Let it reaffirm what your company stands for - resilience in adversity, integrity in action and an unyielding commitment to building a brighter future for India and the world,” said Gautam Adani.
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