Crime and Corruption Adani Group has faced new accusations of manipulating stocks, which caused a lot of confusion in the Indian stock market today. According to a new report by the Organized Crime and Corruption Reporting Project (OCCRP), Gautam Adani’s family has invested a lot of money in their own companies using secretive funds based in Mauritius.
It also shows that Vinod Adani, who is Gautam Adani’s older brother, secretly invested in Adani Group’s companies through funds from Mauritius. It is important to mention that a company called Hindenburg, from America, said similar things about an Indian group of companies manipulating their stock in January this year.
The company answered to the new claims made by OCCRP (Organized Crime and Corruption Reporting Project) and saw them as “another attempt by people funded by George Soros and supported by some foreign media to bring back a report that has no merit. ”
The report from OCCRP about offshore funding had a negative effect on the value of Adani companies’ shares, even though Adani group did not accept the report. The stocks of Adani group fell quickly after the market opened on Thursday.
Adani Power’s shares went down by 3 percent at the start of trading, while Adani Transmission’s share price dropped by 3. 3 percent in the morning. Adani Enterprises’ stocks went down by 2. 50 percent Adani Total Gas shares also went down by 2. 50%
In the recent update, Congress has asked for a group of politicians to be formed to investigate the issue. Congress member of parliament Rahul Gandhi will speak to the media at 5 pm on Thursday about a particular issue.
