Motilal Oswal Denies Accusations

Mumbai: Asset manager Motilal Oswal Asset Management Company (MOAMC) on Sunday denied accusations circulating on social media against the company and its officials, saying 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.” Responding to rumours on social media that claimed MOAMC money managers may have been bribed to stock up on Kalyan Jewellers, the financial services major categorically denied “the baseless, malicious, and defamatory allegations.

Such baseless attacks on our integrity are completely unacceptable to us. Motilal Oswal Financial Services (MOFSL) has a legacy of nearly four decades of working with ethical practices and transparency,” said the asset manager.In a statement, the company further stated that the “integrity of our teams is of highest standards and we assure investors that we never have, and we never will tolerate any slip up on this count.The allegations made against the firm and its officials about rumours related to resignation, unethical practice or search are totally false and a blatant attempt to mislead the public and damage the trust we have earned over decades of exemplary service,” MOAMC said.