Motilal Oswal Asset Management Company, which has been the subject of social media speculations with regard to its investment in Kalyan Jewellers, on Sunday categorically denied all the charges saying the “baseless, malicious, and defamatory allegations’’ being circulated are a “deliberate attempt byindividuals with vested interests to malign the goodreputation’’ of the firm andits leadership.

The Kalyan Jewellers stock has been on a freefall in recent sessions despite reporting good numbers for the December quarter.

On Friday, the scrip settled at ₹501.65 on the BSE which marked a fall of 6.93 per cent over the previous close.

Earlier this month it was trading at ₹774.4. It has therefore crashed 35 per cent in more than two weeks. This came amid unsubstantiated rumours in social media circles of income tax raids and that bribes were paid to money managers at Motilal Oswal AMC to shore up the stock.

At a concall recently, executive director Ramesh Kalyanaraman, ED of Kalyan Jewellers, had denied all these rumours.

“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 highest level of compliance standards and we have full faith in our systems, processes and fund managers,’’ Motilal Oswal said in the statement.

“Our day-to-day operations are ongoing in the normal course and we stay focussed on our vision and missionand keep our investors growth as paramount,” the fund house added.