The Organized Crime and Corruption Reporting Project (OCCRP) alleged offshore funding by Adani in its own shares
Gautam Adani’s family associates allegedly invested millions in its own firms via “opaque” Mauritius funds
Nasser Ali Shaban Ahli, Chang Chung-Ling spent years trading hundreds millions of dollars worth of Adani stock
Both of them share close ties with Adani family, and also served as directors in linked firms, said OCCRP
The report also claimed the involvement of Vinod Adani in stock manipulation
The report alleges Adani of owning more than 75% of its own stock (if Ali and Chang’s share are added)
As per MPS rule, it is compulsory for all Indian listed firms to hold less than 75% promoter shares
Adani has rejected the claims made by the firm and called it a ‘rehash of Hindenburg claims’