Emirati Nasser Ali Shaban Ahli has been named as one of the two close associates of Vinod Adani used to route investments into Adani Group stocks through offshore funds. Ahli is a director of United Arab Emirates (UAE)-based consultancy company Al Jawda Trade & Services. Ahli’s name did not feature in the report by US short-seller Hindenburg Research released in January, but the names of a few related firms got mentioned.
In the Organized Crime and Corruption Reporting Project report, Ahli has been described as the owner of Gulf Arij Trading FZE (UAE), a beneficial owner in Mid East Ocean Trade & Investment (Mauritius), and a ‘controlling person’ in Gulf Asia Trade & Investment (British Virgin Islands).
