Gautam Adani: What did Adani Group do in one year, SEBI will investigate every deal

Markets regulator Securities and Exchange Board of India (SEBI) will closely scrutinize each and every deal done by the Adani group in the last one year. This is in addition to Sebi’s preliminary probe into the group’s overseas portfolio investments, according to a Reuters report. Along with this, the report of America’s short seller company Hindenburg Research will also be studied. SEBI is increasingly scrutinizing all the transactions that Adani Group is doing in the listed space. Adani Group shares have come under heavy pressure after Hindenburg released a report, which accused the Gautam Adani-led group of stock manipulation and improper use of offshore tax havens. Adani Group has dismissed the report as ‘baseless’ and ‘malicious’ and said it plans to take legal action for causing deep distress to its investors and shareholders.

What’s in the Hindenburg Report?

The world’s third largest corporate world is doing the world’s biggest theft. Gautam Adani’s wealth increased rapidly in the last three years. Gautam holds short positions in companies owned by Adani. In the last three years, the share price of Adani Group’s 7 listed companies has increased by an average of 819%. Hindenburg Research has made this claim by scanning thousands of documents and visiting half a dozen countries. Along with this, it has been said that the share price of Adani Group can break up to 85%. Adani Group companies have high debt, many shares are pledged. The current ratio of 5 out of 7 group companies is less than 1, which means there is a liquidity problem. 8 out of 22 high officials are from Adani family. He has control over the financial and key decisions of the group. During the trading session, all the 10 shares of Adani Group were seen trading on the red mark.