Adani-Hindenburg saga: Two Mauritius firms in report were under I-T lens

At least two Mauritius companies that made investments in Adani group companies and were mentioned in the Hindenburg Group’s Adani report were under investigation by the Indian tax authorities for more than ten years, a report by the Indian Express said.

As the Securities and Exchange Board of India (Sebi) was granted an additional three months from the Supreme Court (SC) earlier this month to complete its investigation, records obtained during the 2017 Paradise Papers investigation reveal that Mavi Investment Fund Ltd (now APMS Investment Fund Ltd) had received a notice from the Mauritius Revenue Authority (MRA) in September 2012.