In January, a US short seller claimed that Adani Group had inflated the stock price by using offshore shell firms. This brought them back into the spotlight. The accusations have been consistently refuted by Adani Group.The challenge is to lessen opaque connections between Government and business should allow and even promote the work of regulators. The ownership of those Mauritius funds that have been holding and trading Adani stock has not yet been fully uncovered by SEBI, why? Rajan questioned, Does it require assistance from the investigative agencies?
Source: Aaj TakThe ownership structure of the funds is obscure because they are registered in the tax haven Mauritius.
For alleged round-tripping, Cresta, Albula, and Elara have all been the focus of at least one investigation.
Source: Bar and BenchIn a study released on January 24 by Hindenburg Research, the Adani group was charged with brazen stock manipulation and accounting fraud as well as employing several offshore shell firms to artificially increase stock prices. The organisation has refuted all claims, calling them malicious, baseless and a planned attack on India.
What do you think about this ? Share your views in the comments below
Rajan queries why Sebi failed to investigate the problems brought up by Hindenburg
By tirupatinews
