Adani Group Rejects "Recycled Allegations" In OCCRP Report August 31, 2023 "We categorically reject these recycled allegations. These news reports appear to be yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report. In fact, this was anticipated, as was reported by the media last week," said the ports-to-power conglomerate in a statement.

The claims, the conglomerate said, were based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over-invoicing, transfer of funds abroad, related party transactions and investments through FPIs (Foreign Portfolio Investors). "An independent adjudicating authority and an appellate tribunal had both confirmed that there was no over-valuation and that the transactions were in accordance with applicable law. "Notably, these FPIs are already part of the investigation by the SEBI. Now, new documents obtained by reporters reveal two men who spent years trading hundreds of millions of dollars’ worth of Adani Group stock: Nasser Ali Shaban Ahli and Chang Chung-Ling. Both have close ties to the Adani family, including appearing as directors and shareholders in affiliated companies. Records show that the investment funds they used to trade in Adani Group stock received instructions from a company controlled by a senior member of the Adani family...

The essence of the allegations was that some of the Adani Group’s key “public” investors were in fact Adani insiders, a possible violation of Indian securities law. But none of the agencies contacted by the committee were able to identify those investors, since they were hidden behind secretive offshore structures.

Modi-linked Adani family secretly invested in own shares, documents suggest  During Modi’s time as leader, the power and influence of the Adani Group has soared, with the conglomerate acquiring lucrative state contracts for ports, power plants, electricity, coalmines, highways, energy parks, slum redevelopment and airports. In some cases, laws were amended that allowed Adani Group companies to expand in sectors such as airports and coal. In turn, the stock value of the Adani Group rose from about $8bn in 2013 to $288bn by September 2022.

Adani has repeatedly denied that his longstanding connection with the prime minister has led to preferential treatment, as has the Indian government.

Hidden Adani Investors Uncovered By Hindenburg 2.0? | OCCRP Investigation | Akash Banerjee The Deshbhak Gautam Adani और Modi की वजह से डूबा लाखों लोगों का पैसा | Sanjay Singh ने किया EXPOSE Aam Aadmi Party

Adani partners used offshore funds to invest in its shares, alleges report  Arun Agarwal, a stock market specialist and transparency advocate, told OCCRP that it is illegal for any company to hold over 75% of its shares. “When the company buys its own shares above 75%… it’s not just illegal, but it’s share price manipulation,” Agarwal added. “This way the company [creates] artificial scarcity, and thus increases its share value – and thus its own market capitalisation.”

After Hindenburg, OCCRP strikes Adani Group: Is everything a Soros conspiracy? TV Newsance 224

क्या है अदाणी-OCCRP की कहानी | The Adani-OCCRP Saga Money trail . Sep 4, 2023 , yet another expose on Adani has put names and faces into allegations of share price manipulation. The question is will the SEBI investigators act now?