Two people closely linked to India’s Adani Group, one of the country’s largest conglomerates, secretly purchased of millions of dollars of stocks in the group’s companies, possibly violating Indian law, according to a report by a network of investigative journalists.
FILE- Adani Group Chairman Gautam Adani attends the"Invest Karnataka 2016 - Global Investors Meet" in Bangalore, India, Feb. 3, 2016. Associates with alleged links to the conglomerate, used offshore entities to invest millions into publicly traded company stocks, a report from a network of investigative journalists Organized Crime and Corruption Reporting Project claimed on Thursday, Aug. 31, 2023.
The findings by the non-profit project were reported by The Guardian and The Financial Times. The project said they were based on files from multiple tax havens, bank records and internal Adani Group emails. The two investors traded large amounts of shares in four Adani companies between 2013 and 2018, the report said.
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Report says close associates of India's Adani Group secretly purchased large numbers of sharesTwo people closely linked to India’s Adani Group, one of the country’s largest conglomerates, secretly purchased of millions of dollars of stocks in the group’s companies, possibly violating Indian law, according to a report by a network of investigative journalists.
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