Billionaire Gautam Adani extolled development prospects for India and his enterprise empire, slamming a harmful brief vendor assault towards his embattled conglomerate earlier this 12 months.

Adani got here out swinging in a speech to shareholders on the annual normal assembly of flagship agency Adani Enterprises Ltd. on Tuesday. He hit again at Hindenburg Research’s “malicious” allegations of company fraud and inventory manipulation, which he labeled as “false narratives” that “various vested interests tried to exploit.”