Motilal Oswal AMC Denies Social Media Allegations, Calls Claims Baseless, Malicious

Motilal Oswal Asset Management Company Ltd., recently in the spotlight on social media due to allegations involving Kalyan Jewellers India Ltd.'s stock, has strongly refuted the claims, describing them as 'baseless, malicious, and defamatory'.

The company stated that these accusations on social media are a 'deliberate attempt' to damage its reputation.

The statement came in response to rumours on social media that claimed Motilal Oswal Asset Management Company money managers may have been bribed to stock up on Kalyan Jewellers.

'We categorically deny the baseless, malicious, and defamatory allegations circulating on social media against Motilal Oswal AMC and its officials. These baseless accusations are a deliberate attempt by individuals with vested interests to malign the good reputation that our firm and leadership have built over decades,' the company said in a statement.

It further said that allegations made against the firm and its officials about rumours related to resignation, unethical practices, or search are totally false and a blatant attempt to mislead the public.

'We urge people not to believe these baseless and unethical attempts to spread misinformation. We urge all stakeholders to rely on credible and verified sources of information. We reassure our investors, distributors, shareholders and all other stakeholders that we follow the highest level of compliance standards and we have full faith in our systems, processes and fund managers,' it added.