With recent revelations pointing to several offshore entities acting in concert with its promoters, the Adani group may have embarked on the task of wiping its slate clean.
On Tuesday, financial daily Mint reported that six of the eight Mauritius and Bermuda-based entities that allegedly had links to the Adani group had shut down. Their closure is significant. Just days before, on 25 August, the Securities and Exchange Board of India had, in a report to the Supreme Court, said that it was awaiting data from five offshore tax havens to identify the beneficiaries behind the foreign funds that had invested in the Adani group.
The six entities were among the conduits for investments in Adani group stocks, revealed a recent investigation by the Organized Crime and Corruption …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai