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Hindenburg group accuses Adani group of fraud


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Mods can add a poll on Adani's future :- 

 

1) Adani survives this knock and goes on to be a big part of India's growth story

2) Adani loses steam and hives off its big buys 

3) Adani heads towards liquidity crisis and eventual bankruptcy

4) Adani is too big to fail. So govt bails them out in 2024 post election, 

 

My sense is markets are sentiments. They are not fundamentals, Short sellers have a strategy and they have implemented it brilliantly. Adani will live to fight another day. These businessmen are tough folks and they can ride out storms like these. Two day experts don't matter in the long run.

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8 hours ago, SM2907 said:

It wont be required. Market has reacted. Audit will be to save his ass

Not if it is an independent audit. Doubt this man will ever do that.

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6 hours ago, ravishingravi said:

 

What was that lot ? Please Share with us. From what I read all the information was already in public discourse. 

If it was all so obvious and out there why did SEBI not stop him from trading.

 

Still no lawsuit from a man who has been accused of con.

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6 hours ago, diga said:

I never said that... Only saying the modus operandi is similar. And also there is a high chance that all of these can be simultaneously true.

 

• Adani is critical to strategic infra projects in India
• Adani has reasonable prospects and solid assets
• Adani has poor corporate governance
• Adani is looking at an imminent cashflow problem
• Adani was strategically targetted

You said Facebook does the same.

 

Minimizing your taxes is allowed by the law.

 

Inflating your share value is not.

 

People like Adani are needed for India to be successful and grow. But they are not bigger than the country. His greed got to him.

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4 hours ago, ravishingravi said:

Mods can add a poll on Adani's future :- 

 

1) Adani survives this knock and goes on to be a big part of India's growth story

2) Adani loses steam and hives off its big buys 

3) Adani heads towards liquidity crisis and eventual bankruptcy

4) Adani is too big to fail. So govt bails them out in 2024 post election, 

 

My sense is markets are sentiments. They are not fundamentals, Short sellers have a strategy and they have implemented it brilliantly. Adani will live to fight another day. These businessmen are tough folks and they can ride out storms like these. Two day experts don't matter in the long run.

Adani would be fine. His shares won't have the artificial valuation that they did. He still has a vibrant solar power and transmission sector.

 

And Modi is smart person, and he will now distance himself from Adani.

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4 hours ago, SM2907 said:

to kya hua Adani ne fraud kiya. Sab karte hain. Adani ko kyun target karna. sab ko karo :hysterical::hatsoff:

Gore Kaale waalon ka logic

 

And that is the biggest problem. They all do that so let him get away. They all should be paying the price. He has really hurt Indian economy doing that.

 

I think all these rich folks need to be send to Gandhi Ashram for a week to live modestly. Then they will learn how to serve the people.

 

 

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3 minutes ago, Khota said:

You said Facebook does the same.

 

Minimizing your taxes is allowed by the law.

 

Inflating your share value is not.

 

People like Adani are needed for India to be successful and grow. But they are not bigger than the country. His greed got to him.

That's not exactly true, if you're caught you're a thief & if not you're just an alleged conman! This happens everywhere in the world, including the US -

 

The only rule which applies everywhere in the *ing universe (almost) equally isHe who has the stick owns the :pop2:

 

 

Check "Billions" for more such opportunities! What Musk did wrt Tesla or even Doge multiple times is equally deplorable but he got away with it because - well he's the richest man on earth :hatsoff:

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7 hours ago, ravishingravi said:

 

What was that lot ? Please Share with us. From what I read all the information was already in public discourse. 

 

Used an 11 employee firm to audit books. That firm had zero clients. They were inexperienced. Why not use a big firm to audit your finances?

 

He used this small company for audit so that he could influence them.

 

That is how fraud is committed.

 

I went to the website of their audit firm Shah Dandaria and here is the result.

 

Hmmm… can't reach this page

The connection was reset.

ERR_CONNECTION_RESET
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2 minutes ago, R!TTER said:

That's not exactly true, if you're caught you're a thief & if not you're just an alleged conman! This happens everywhere in the world, including the US -

 

The only rule which applies everywhere in the *ing universe (almost) equally isHe who has the stick owns the :pop2:

 

 

Check "Billions" for more such opportunities! What Musk did wrt Tesla or even Doge multiple times is equally deplorable but he got away with it because - well he's the richest man on earth :hatsoff:

People routinely go to jail for this in US.

 

Let me ask you, are you condoning this behavior?

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20 minutes ago, Khota said:

Adani would be fine. His shares won't have the artificial valuation that they did. He still has a vibrant solar power and transmission sector.

 

And Modi is smart person, and he will now distance himself from Adani.

 

adani ports are their cash cow 

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6 minutes ago, Khota said:

People routinely go to jail for this in US.

 

Let me ask you, are you condoning this behavior?

No I'm saying as long as the "system" is looking to forgive you or look the other way you're safe! When you have a target on your back then just watch out. Drumpf, Dubya, Colin Powell, Dick the *ing Cheney, Reagan - these are just some of the top names that come to mind as far as people who should've IMO served time in jail.

 

I can find a similarly long list for business owners from the US but you get the point, right?

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Just now, R!TTER said:

No I'm saying as long as the "system" is looking to forgive you or look the other way you're safe! When you have a target on your back then just watch out. Drumpf, Dubya, Colin Powell, Dick the *ing Cheney, Reagan - these are just some of the top names that come to mind as far as people who should've IMO served time in jail.

 

I can find a similarly long list for business owners from the US but you get the point, right?

That was for the war and I never agreed with the weapons of mass destruction bs. This is for finances.

 

SEC will prosecute you to the full extent. SEBI will not.

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1 hour ago, R!TTER said:

No I'm saying as long as the "system" is looking to forgive you or look the other way you're safe! When you have a target on your back then just watch out. Drumpf, Dubya, Colin Powell, Dick the *ing Cheney, Reagan - these are just some of the top names that come to mind as far as people who should've IMO served time in jail.

 

I can find a similarly long list for business owners from the US but you get the point, right?

Why not Clintons, Obama and Biden? 

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5 hours ago, Khota said:

Not if it is an independent audit. Doubt this man will ever do that.

From the link below

 

The Indian stock exchanges halted trading in five other listed Adani firms after their stock crashed by the daily limits set at 5% and 10%. They included Adani Total Gas and Adani Green Energy, ventures in which TotalEnergies (TTFNF) of France has invested.

 

The French energy giant described its $3 billion exposure to Adani as “limited” in a statement on Friday, adding that it welcomed Adani’s intention to appoint one of the Big Four global accounting firms to conduct a “general audit.” Adani Group declined to comment.

 

https://www.cnn.com/2023/02/03/business/adani-shares-hindenburg-hnk-intl/index.html

 

 

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47 minutes ago, Under_Score said:

From the link below

 

The Indian stock exchanges halted trading in five other listed Adani firms after their stock crashed by the daily limits set at 5% and 10%. They included Adani Total Gas and Adani Green Energy, ventures in which TotalEnergies (TTFNF) of France has invested.

 

The French energy giant described its $3 billion exposure to Adani as “limited” in a statement on Friday, adding that it welcomed Adani’s intention to appoint one of the Big Four global accounting firms to conduct a “general audit.” Adani Group declined to comment.

 

https://www.cnn.com/2023/02/03/business/adani-shares-hindenburg-hnk-intl/index.html

 

 

Pakistan will stop terrorism before Adani lets a top four accounting company see his books.

 

Until and unless he has CFO take the fall for him like Trump.

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12 minutes ago, coffee_rules said:

 Stock went up ₹500 today. Any idea why? @ravishingravi @rangeelaraja

This is what happened:

 

On Friday, shares of Adani Enterprises, the group’s flagship firm, fell as much as 35% in Mumbai. They recovered most of those losses to close down 2%, bringing the cumulative fall to almost 55% since the allegations surfaced 10 days ago.

 
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