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The Adani Group has hit back at allegations made by billionaire George Soros-backed Organized Crime and Corruption Reporting Project (OCRP). The Adani Group said this was an attempt supported by a section of the foreign media to revive the Hindenburg Report and tarnish the group’s reputation. As alleged by the OCCRP, the Adani group has invested crores of rupees in the group’s shares through an unnamed Mauritius-based investment fund.
What the group said: Adani Group said – We categorically deny these allegations. These news reports come from a section of Soros-backed foreign media. Hindenburg There seems to be a concerted effort to revive the report. In fact, the report looks natural.” The group further said that the report’s claims are based on closed cases a decade ago. The Directorate of Revenue Intelligence (DRI) then found more invoicing, overseas money transfers, related party transactions and FPI transactions. Allegations of investment have been investigated by these allegations and have no relevance or basis.
An OCCRP report earlier said that some of the Adani group’s shares were invested by an “unnamed” Mauritius fund. As per the allegation, this investment has been made on behalf of partners of the promoter family. The report further stated that during the investigation, at least two cases were found in which investors bought or sold Adani stock through offshore channels.
Let us tell you that this report is from a short seller based in America. Hindenburg This comes at least eight months after Research’s alleged unfair business practices.