OCCRP Investigation Reignites Adani Group Stock Manipulation Allegations
The current investigation from OCCRP asserts that since 2013, friends of Vinod Adani, the older brother of Gautam Adani, have made significant investments in purchasing “free float” shares.
This accusation comes several months after the Hindenburg report accusing the Adani Group concerning stock manipulation.
The Indian stock market is currently in utter pandemonium as a result of new claims of “stock manipulation” made against Adani Group by OCCRP. The Organized Crime and Corruption Reporting Project (OCCRP) asserted in its most recent analysis that Gautam Adani’s group used “opaque” Mauritian funds to make investments of millions of dollars in their own businesses.
In response to the updated allegations made by OCCRP, the business described them as another coordinated effort by Soros-funded groups backed by a portion of the foreign media to reactivate the meritless Hindenburg accusations.
In the opening hours of trading, shares of Adani Power plummeted by 3%, while those of Adani Transmission dropped by 3.3%. Similar to this, shares of Adani Enterprises decreased by 2.50%. Adani Total Gas’s shares also decreased by 2.50 percent on Thursday, extending the negative trend.
On Thursday at 5 p.m., Rahul Gandhi will speak to the media about the situation. The creation of a Joint Parliamentary Committee to look into the matter has been ordered by Congress.
While the Adani Group has refuted the accusations, the OCCRP probe into offshore money had an influence on the price of Adani Group shares. On Thursday, just after the market opened up, all Adani Company equities dropped.
‘Adani Group Stock Manipulation’ Article By Debanjana Talukdar
You can also join the Facebook Community for more such updates.
You can also read about the 3M Earplug Lawsuit.
[…] You can also read about the Adani Stock Manipulation Controversies. […]