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Adani Group Refutes FT Report On FDI Funds As 'Mendacious', Cites Rs 20,000-Crore Stake Sales

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In a strongly worded letter to the FT editor on April 10, shared with the exchanges, the Adani Group said the report did not take into account Rs 20,000 crore that the group had raised through stake sales in its businesses. As a result, the FT article has created a "misleading narrative, misunderstanding in the markets, created reputational impact on the Adani Group companies and has become a political issue". The strong rebuttal comes when Congress leader Rahul Gandhi has been seeking disclosure on Rs 20,000 crore that came into the conglomerate allegedly through "shell companies".

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