New Delhi: Bloomberg News reported on Thursday that the US attorney’s office in Brooklyn, New York, has sent inquiries to investors with large stakes in the Adani Group in recent months, focusing on what the power giant from Indian ports has told them. . A similar investigation is underway by the US Securities and Exchange Commission, Bloomberg reported, citing two people familiar with the matter.
The Bloomberg report said officials are looking into representations made by Adani to its US investors following the short-seller Hindenburg report. ,Also Read: Top 10 Smartphones Under Rs 20,000 With 108MP Camera,
“We are not aware of any such summons to investors,” an Adani spokesman said in an emailed statement to Reuters. ,ALSO READ: World’s richest professor who became China’s richest man with a net worth of Rs 1,96,120 crore failed university entrance exam 3 times,
He added that the group rejects any suggestion that it or its businesses have not acted in accordance with the regulations and accounting standards of the jurisdictions in which they operate.
“Our various issuer groups are convinced that the disclosures are complete as set out in the respective issuer’s circulars,” the spokesperson said.
In January, Hindenburg Research said it had short positions in the group and accused the group of improper use of offshore tax havens. Short-sellers also raised concerns about the high debt, which wiped $11 billion off investors’ wealth.
The Adani group has rejected all the allegations.
In May, India’s market watchdog “drawn blank conclusions” in its investigation into suspected violations in the group’s overseas investments, and a Supreme Court-appointed panel said the ongoing investigation into the matter could be a “journey without destination”.
The SEC said it does not comment on the existence or non-existence of potential investigations. The US Attorney’s Office for the Eastern District of New York declined to comment on the report.
The US Attorney General’s office did not immediately respond to requests for comment.