In a development that may shed some light on the Adani probe, it has been revealed that the controlling shareholder of Opal Investment Private Ltd — the largest public investor in Adani Power Ltd — is a “single-person company” that was established in the UAE in May 2019.
According to a report by The Indian Express, which claimed to have access to corporate records, Opal Investment Pvt Ltd is also among the 13 overseas funds under SEBI scrutiny.
SEBI’s investigation had earlier pointed to Zenith Commodities General Trading LLC as the controlling shareholder of Opal Investment Pvt Ltd, with Adel Hassan Ahmed Alali of UAE identified as its beneficial owner.
