Adani reacted to the report with
, saying the company was “shocked and deeply disturbed” by the allegations launched by Hindenburg, who it called the “Madoffs of Manhattan,” referring to the late financier and fraudster
. “The document is a malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive,” the company said, calling it “tremendously concerning” that an investor sitting on another continent could have caused “serious and unprecedented adverse impact” on investors. Adani said Hindenburg’s report takes aim at India as well. “This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,” the company said.