Adani’s foreign shareholders mess goes deep

We looked into the antecedents of eight foreign funds with an interest in Adani group companies and what we found doesn’t look pretty

Business tycoon Gautam Adani’s billion-dollar empire has routinely faced attacks from critics who have alleged that all is not kosher with his meteoric rise. These attacks have so far been dismissed as being of no consequence, having their basis in rumours and baseless innuendos. Even the doubts raised last month over the foreign shareholders in Adani’s listed companies, which led to a Rs 1 lakh crore wealth erosion, were put down to a motivated attack. 

However, this changed about 10 days back when minister of state for finance Pankaj Chaudhary said that there were active probes pending against the group.  …


Jayshree P. Upadhyay

Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.