Adani junks report, calls it ‘recycled allegations’
MUMBAI: The Adani group on Thursday termed claims about its dealings in its stocks using a clutch of foreign entities as ‘recycled allegations’ – by short sellers who ‘are under investigation by various authorities’ – aimed at making profits by driving down stock prices of its group companies.
Early on Thursday, Organized Crime and Corruption Reporting Project (OCCRP), a global network of investigative journalists, released a report that it said was based on new documents it received mainly from Mauritius. OCCRP said two individuals – Nasser Ali Shaban Ahli and Chang Chung-Ling – used Mauritius-based funds to invest as much as $430 million in Adani group companies. The funds invested had come mainly from Vinod Adani, the elder brother of group chairman Gautam Adani, it said.
