Read on the application
Hindenburg has also responded to allegations leveled against the Adani group by the Organized Crime and Corruption Reporting Project (OCRP). On the OCCRP report, American short-selling firm Hindenburg said that the deficiencies that were there have also been eliminated. Hindenburg quoted a Financial Times report as saying that the offshore fund, which holds at least 13% free float in some of the Adani group’s shares, was secretly controlled by associates of Vinod Adani. He has 2 partners – Nasir Ali Shaban Ahli and Chang Chung-Ling.
Let us tell you that Hindenburg This is the same company that published a 106-page report against the Adani group in January. After this report, there was an earthquake in the shares of Adani Group. Now after almost eight months, OCCRP, the organization of billionaire George Soros, has released a report raising questions on the Adani Group. However, the Adani group has also rejected it outright.
Also Read – ₹99 IPO: Could List for ₹159, Investors Broke Bet, Investors Will Be Rich on Day One!
What is the charge?
The OCCRP claimed that two people, Nasir Ali Shaban Ahli and Chang Chung-ling, had long-standing business ties with the Adani family. Both Gautam Adani Vinod has also served as director and shareholder in group companies etc. associated with Adani’s elder brother. These people bought, sold and made huge profits from Adani shares through foreign entities for many years. The involvement of the Adani group is not clear.
Ambani’s focus on this company with ₹20 shares, loot to buy shares, 12% jump in price
According to the OCCRP, the documents show that the management company in charge of their investments paid Gautam Adani’s elder brother Vinod Adani’s company to advise them on their investments. The Adani Group in a statement categorically denied this and said that the old allegations were rehashed in a different manner.