Big relief to Adani Group surrounded by controversies after Hindenburg Report. Adani Group get big relief from Mauritian regulator Financial Services Commission

On behalf of the Financial Services Commission of Mauritius, it has been said that we have not found any irregularities in 38 companies and 11 group funds of Adani Group.

business

oi-Ankur Singh

Published: Tuesday, February 14, 2023, 13:09 [IST]

After the Hindenburg report came to the fore, the Mauritius group has given a big relief to the Adani Group, which is mired in controversies. On behalf of the Financial Services Commission of Mauritius, it has been said that we have not found any irregularities in 38 companies and 11 group funds of Adani Group. Earlier in the Hindenburg report it was said that Adani Group had increased its share prices through fake companies of Mauritius. FSC Chief Executive Officer Vikash Thakur said that in the initial assessment, we have not found anything wrong in the investigation of companies related to Adani Group, everything has been done under the law.

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Explain that at present SEBI is investigating the link between Adani Group and Mauritius companies. The Mauritius-based company is under the scanner of SEBI’s Great International Tusker Fund and Ayushmat Limited, both of which had invested in Adani’s company. The way the Hindenburg report came out, after that the share price of Adani Group fell by $120 billion. However, all the allegations leveled against him were rejected by the Adani Group and it was said that the allegations are false.

IEarlier, some questions were also raised on the Adani Group by the Australian Securities and Investments Commission, Australia’s market regulator. It was said on behalf of the company that we will review the allegations and try to find out if there is anything wrong in it. On behalf of the UK’s Regulatory Financial Conduct Authority, it was said that we are also investigating whether there is any connection between Adani Group and Elara Capital. However, Adani’s stock has seen an increase in the last few days. The company had withdrawn the FPO of Rs 20,000 after it was fully subscribed. Gautam Adani had said that the interest of investors is paramount for us.