ED finds suspicious activities by 16 entities in Adani case
Tuesday, 29 August 2023 The ED has investigated the links of an Indian private bank and 15 other entities, including foreign portfolio investors (FPIs), whose beneficial ownership is not yet known, in the case related to short selling of shares of Adani group companies earlier this year. Adani group entities lost nearly $150 billion in value soon after the Hindenburg report came out, which accused the Gautam Adani-led conglomerate of stock manipulation and accounting frauds.
As the counting trend suggested major gains for the Opposition's INDIA alliance in the Lok Sabha election, Rahul Gandhi slammed the Narendra Modi-led government and said that the Opposition fought this election not just against the BJP but all the institutions it had "captured." "We fought this election against the Bharatiya Janata Party, Indian governance structure, probe agencies, judiciary and other public institutions, since these all had been captured by the Modi government," Gandhi said. "The public directly related Modi and Adani. If Modi loses, the stock market says Modi is gone so Adani is gone. There is a direct relationship of corruption between them," he alleged. Indian stocks suffered their worst intraday fall since March 2020 on Tuesday, as vote counting trends in the general election suggested Prime Minister Narendra Modi's alliance was unlikely to win the overwhelming majority predicted by exit polls.
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Witness the aftermath of the Lok Sabha Election Results 2024 as Adani Group shares plummet by billions, sparking a bloodbath in the share market. Join Oneindia for in-depth analysis and real-time updates on the economic repercussions of this seismic political event.
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Adani Group stocks are trading down following the report. Adani Enterprises, Adani Ports, and Adani Power are down more than 2 percent, Adani Green Energy down... Zee News Also reported by •IndiaTimes
Adani Group Companies' shares fell after Deloitte resigned as the auditor of Adani Ports following concerns over alleged related party transactions raised by... IndiaTimes
US-based boutique investment firm GQG Partners has invested $1.1 billion in Adani Power for an 8.1 per cent stake, sources with knowledge of the matter said on... IndiaTimes
Tuesday, 29 August 2023
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