Journalist Sreenivasan Jain on Sunday dismissed a claim on Twitter that he resigned from NDTV as the editorial director of the TV channel asked him and other journalists not to speak about the Hindenburg Research report on Adani Group. Responding to a Twitter user who said "Sonia Singh of NDTV had sent instruction to every NDTV journo to not speak about Adani scam. Vasu resigned", Jain termed it "total rubbish".
Sreenivasan Jain on Saturday (January 28) resigned from NDTV, a group he has been associated with since 1995.
Sreenivasan Jain has won several awards for his investigative journalism and political reporting. He was the anchor of the channel’s programmes Reality Check and Truth vs Hype.
Post the takeover by the Adani Group, many NDTV employees, including journalist Ravish Kumar, NDTV founders Pranay Roy and Radhika Roy, and NDTV Group president Suparna Singh, have tendered their resignations.
Sreenivasan Jain's decision to quit NDTV came weeks after Ravish Kumar parted ways with the media outlet following the channel’s acquisition by billionaire businessman Gautam Adani. Ravish Kumar announced his exit from the channel a day after the network’s founders Prannoy and Radhika Roy stepped down from its board. Kumar worked at NDTV’s Hindi channel for 27 years.
What are the allegations against Adani Group?
According to the Hindenburg Report, Gautam Adani, the founder and chairman of the Adani Group, has a net worth of about $120 billion, which he has increased by over $100 billion in the last three years, primarily as a result of stock price growth in the group's seven prime listed companies, which have increased by an average of 819% during that time.
Hindenburg has accused the Adani Group of accounting fraud and questioned the credibility of its audit. In the end of the report there are 89 queries of Hindenburg which they want Adani to answer.
The Report was conducted speaking to numerous people, including former Adani Group senior officials, interviewing for the study, along with thousands of papers, and we visited due diligence sites in close to a dozen different nations, Hindenburg stated.
After the Adani Group claimed that they are looking into legal options to sue Hindenburg, the research institution announced that it would like the company to sue them in the USA so that they can ask for more documents and prove their points.
In another attempt to respond to the allegations, the Adani Group released a statement to answer some of the 89 questions asked in the report. But the company said 21 of these questions are dismissed because they are part of disclosures in public documents from 2015 and can't be considered as a result of the investigation.
Adani stocks pull stock markets down
In the tug of war between the companies the market on Friday saw a sea of red as Adani Stocks pulled the market down. But despite the strongly worded responses and assurances from the company, the shares still closed in a slump.
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