Hindenburg alleges Gautam Adani's brother pledged Adani Group promoter stakes for $240-mn loans from Russian bank https://www.businesstoday.in/latest/corporate/story/hindenburg-alleges-gautam-adanis-brother-pledged-adani-promoter-stakes-for-240-mn-loans-from-russian-bank-370676-2023-02-17
Pinnacle Trade and Investment Pte. Lte., a Singapore company indirectly controlled by Vinod Adani, had in 2020 entered into a loan agreement with Russia’s state-owned VTB Bank. By April 2021, Pinnacle had borrowed $263 million and lent out $258 million to an unnamed related party. Pinnacle offered two investment funds — Afro Asia Trade and Investments Limited and Worldwide Emerging Market Holding Limited as guarantors for the loan.
Both Afro Asia Trade and Worldwide are large Adani Group shareholders. Together, the two funds hold $4 billion (as of February 16 market prices) of stock in Adani Enterprises, Adani Transmission, Adani Ports, and Adani Power, all of which acknowledge the funds as 'promoter' entities. ..
Zero disclosure of these pledges to Indian exchanges.
The fact that Pinnacle pledged the investment funds, rather than their Adani company shares, may exempt the funds from the obligation of having to disclose pledged shares, added the Indian securities expert. Pinnacle, Afro Asia and Worldwide Emerging Market did not respond to Forbes’ requests for comment.
Adani ब्रदर्स ने चुपके से कर दिया बड़ा खेल, रूस के बैंक में रख दिया सबकुछ गिरवी, भारत को भनक तक नहीं The Samachar Express
Feb 18, 2023 #बेगाने_धंधे_में_महुआ_दीवानी Adani ब्रदर्स ने चुपके से कर दिया बड़ा खेल, रूस के बैंक में रख दिया सबकुछ गिरवी, भारत को भनक तक नहीं
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