{"id":26727,"date":"2023-06-23T20:16:07","date_gmt":"2023-06-24T00:16:07","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/us-regulators-probe-indias-adani-group-investor-statements-bloomberg-news\/"},"modified":"2023-06-23T20:16:08","modified_gmt":"2023-06-24T00:16:08","slug":"us-regulators-probe-indias-adani-group-investor-statements-bloomberg-news","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26727","title":{"rendered":"US regulators probe India’s Adani Group investor statements -Bloomberg News"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of the Adani group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS\/Amit Dave\/File Photo\/File Photo<\/span>
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(Reuters) -The U.S Attorney’s Office in Brooklyn, New York, has sent inquiries in recent months to investors with large holdings in Adani Group, focused on what the Indian ports-to-power giant told them, Bloomberg News reported on Thursday.<\/p>\n

The U.S. Securities and Exchange Commission also has a similar probe underway, Bloomberg reported, citing two people familiar with the matter.<\/p>\n

The authorities are looking into the representations that Adani made to its American investors following short-seller Hindenburg’s report, the Bloomberg report said.<\/p>\n

“We are not aware of any such subpoena to investors,” an Adani spokesperson said in an emailed statement to Reuters.<\/p>\n

The group rejects any suggestion that it or its businesses have not acted as per the regulations and accounting standards of the jurisdictions in which they operate, they added.<\/p>\n

“Our various issuer groups remain confident that the disclosures are full and complete as disclosed in the relevant issuer offering circulars,” the spokesperson said.<\/p>\n

In January, Hindenburg Research said it held short positions in the group and accused the conglomerate of improper use of offshore tax havens. The short-seller also flagged concerns about high debt, eroding $11 billion in investor wealth.<\/p>\n

The Adani group has rejected all the allegations.<\/p>\n

India’s markets watchdog had, in May, “drawn a blank” in its investigations into suspected violations in the group’s overseas investments and a Supreme Court-appointed panel said its ongoing pursuit of the case could be a “journey without a destination”.<\/p>\n

The SEC said it does not comment on the existence or nonexistence of a possible investigation. The Eastern District of New York U.S. Attorney\u2019s Office declined to comment on the report.<\/p>\n

The U.S. Attorney General’s office did not immediately respond to requests for comment.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of the Adani group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS\/Amit Dave\/File Photo\/File Photo (Reuters) -The U.S Attorney’s Office in Brooklyn, New York, has sent inquiries in recent months to investors with large holdings in Adani […]<\/p>\n","protected":false},"author":1,"featured_media":2609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-26727","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nUS regulators probe India's Adani Group investor statements -Bloomberg News | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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