Recently Kalyan Jewelers (Kalyan JewelersMotilal Oswal Asset Management Company (AMC), which came into discussion on social media due to allegations related to its shares, has vehemently denied these claims. The company said that all these allegations are ‘baseless, malicious and defamatory’. The company further said that these allegations made on social media are a deliberate attempt to damage its reputation.
The statement comes in response to rumors spread on social media, which claimed that fund managers of Motilal Oswal Asset Management Company (MOAMC) have been bribed to increase shares in Kalyan Jewellers.
What did Motilal Oswal AMC say?
“We categorically deny the baseless, malicious and defamatory allegations being circulated on social media against MOAMC and its officials,” the company said in the statement. These baseless allegations are a deliberate attempt by individuals with vested interests to malign the good reputation built over decades by our firm and leadership.”
The company said the allegations against it and its executives regarding resignations, unethical behavior or rumors related to the search are completely false and an attempt to mislead the public.
Motilal Oswal AMC said, “We urge people not to believe these baseless and unethical attempts to spread misinformation. We request all stakeholders to rely on reliable and verified sources of information. We assure our investors, distributors, shareholders and all other stakeholders that we adhere to the highest level of compliance standards and have full confidence in our systems, processes and fund managers.”