Trinamool Congress MP Mahua Moitra on Friday slammed Adani Group's ongoing overseas roadshows as being 'pointless' and that transparency from the ports-to-power conglomerate is the need of the hour.
"Believe Adani has investor roadshow over next few days. The only ask from Adani group is transparency: On ownership, On related party deals, On govt interactions, On total debt and liquidity. Having global private roadshows for investors is pointless. Just come out with the truth," tweeted Moitra.
Her tweet refers to the various issues issued by US short seller Hindenburg Research in its scathing report against the conglomerate in January.
Shares of Adani Group's listed companies have seen around $130 billion wiped away from their market valuation after Hindenburg Research's report alleged stock manipulation and improper use of tax havens, and flagged "substantial" debt levels, which the group has denied.
A Bloomberg report said Adani Group's executives told investors in London that chairman Gautam Adani and his family have prepaid all borrowings backed by his conglomerate's shares.
The investor meeting was part of a worldwide roadshow launched by the conglomerate aimed at reassuring investors that the conglomerate's finances are under control.
Adani Group has lined up roadshows in several American cities till March 15 as part of its efforts to rebuild investor confidence.
Mahua Moitra, on Thursday, accused Adani Group of "classic deception" for creating fresh share pledges in two firms, especially after it claimed to have told its investors that all share-backed loans have been paid back.
Moitra, who has been accusing Adani Group of various corporate violations ever since US short seller Hindenburg Research accused it of share manipulation and illegal use of tax havens, asked how market regulator Sebi could be okay with Adani's claims and actions within the span of a few hours.
"How can all Adani share backed loans be paid off and then fresh share pledges are created in 2 Adani entities a few hours later. Classic deception. Too much bhang to digest. Or is it all okay for @SEBI_India?" tweeted Moitra while referring to the traditional drink consumed during Holi festival.
Another Bloomberg report said the Adani group has repaid a $500-million bridge loan that was due Thursday.