Adani group firms pledge shares for lenders of flagship company – SBICAP Trustee

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Three Adani group companies have pledged shares for lenders to the Indian conglomerate's flagship Adani Enterprises , which pulled a $2.5 billion share sale during a recent market rout, the debt trustee firm said.

Hindenburg Research accused the group of stock manipulation and improper use of offshore tax havens. The group has rejected the firm's findings and denied any wrongdoing.the Adani group's links to some of the investors in the conglomerate's aborted share sale, sources told Reuters on Friday.

Fitch estimates that loans to all Adani group entities account for 0.8% to 1.2% of total lending by Indian banks rated by the agency. State Bank of India's exposure to the group was 0.9% of its loan book, or around 270 billion Indian rupees , Chairman Dinesh Kumar Khara has said., two global rating agencies have said.Our Standards:

 

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I would be surprised to know what is the views of the creditors involved knowing that the collapse is inevitable and what will happen to them. People should learn from the Steinhof saga in South Africa. No different

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Adani Group Reportedly Hires Top U.S. Law Firm Over Fraud Allegations As Stocks Continue To TankThe Indian conglomerate’s founder Gautam Adani’s net worth dropped below $60 billion, pushing him out of Forbes’ list of the top 20 richest people in the world. He alone is not responsible for this situation. India's Prime Minister Narendra Modi too is a partner in Adani's financial crimes. Modi supported him twisting all laws. Modi behaved like Adani's agent. This idiot will be self-inflicting more harm and damage on himself than HindenburgRes did. He will be screwed in US if he plans to proceed
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