[lioncityftw]

https://www.channelnewsasia.com/asia/ind...rt-3247661



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[Bluebull]

I think contrarian Temasick may have saved its blushes
Otherwise don’t know how many hundreds of millions it has to write down

[theold]

The trigger was news that Swiss banking giant Credit Suisse had stopped accepting Adani bonds as collateral for loans it advances to private banking clients, Bloomberg reported.

The slide in Adani's personal wealth has dropped the school dropout billionaire off the top 10 real-time Forbes rich list and seen him overtaken as Asia's richest man by fellow Indian Mukesh Ambani.

Adani Total Gas ― in which French giant TotalEnergies owns 37.4 percent ― dropped another 10 percent on Wednesday, forcing the Bombay Stock Exchange to suspend trade in the stock soon after the market's open.

Adani Ports dropped almost 18 percent, while Adani Power and Adani Wilmar fell five percent each.

https://www.koreatimes.co.kr/www/world/2...44726.html

[Bluebull]

According to Hindenburg Research, Adani has artificially boosted the share prices of its units by funnelling money into the stocks through offshore tax havens.

This "brazen stock manipulation and accounting fraud scheme" is "the largest con in corporate history", Hindenburg said in its report.

Even before the document there were concerns that Adani had taken on too much debt.

HOW COME OUR CECA-EMPLOYED FORENSIC AUDITORS & INVESTIGATORS ARE UNABLE TO UNCOVER ALL THESE??!!??!?

[A2Z]

Last 3 years meteoric rise, sounds pretty unusual. Wonder temasick/gic did any due diligence again. Our cpf money kenna con again.

[sgbuffett]

The group grew 20x from 2019 faster than Tesla and BYD ....

This red flag is so red investors have to be lind not to see.

Hindenburg gave details of 20 off shore company's used to transfer funds and losses around.
I believe Adani will be arrested soon for investigation. He is trying to use Indian givt as a cover but Modi won't be so stupid to let him pull the govt down.

[maxsanic]

Once shorting momentum builds up, whether the original allegations are true or not takes a back seat. From the look of things, the original shortists and all others who have or are still joining in just want to extract their pound in flesh by bringing down the company.

Many of the tech companies at least had some sort of semi believable story to support outrageous valuations, Adani on the other hand seems to be nothing more than a collection of traditional industries amalgamated under a common name.

I am more amazed by the fact that they can even reach such valuations rather than its inevitable collapse eventually.

[Sharexchange]

LJ la those india ceca stocks....if not for America analysts to help uncover these scams must thank USA

[cityhantam]

https://www.channelnewsasia.com/business...ed-3248886
.
.

[cityhantam]

LJ la those india  ceca stocks....if not for America analysts to help uncover these scams must thank USA

Thank USA for creating 2008 world financial crisis!

[K88 shu shu]

abnn stocks ?

mlmlwml.

[lioncityftw]

Satki analysis by CECA confirms that these Farker CECA Adani snake company is a total sham company with shady practices, LOL:

[A2Z]

Hindenbug mentioned that the rise of adani mainly from bank borrowings ie over leverage. Since few local Indian banks want to continue to lend, he turned to overseas lenders, bond market.

[lioncityftw]

[cityhantam]

https://edition.cnn.com/2023/02/01/busin...o%20Forbes.

Asia’s richest no more? Gautam Adani’s wealth crashes as $90 billion wiped off his business

The conglomerate, which has seven listed companies, has lost more than $90 billion in market value in the week since Hindenburg published its report.

[lioncityftw]

[lioncityftw]

https://www.businesstimes.com.sg/interna...ing-uproar
Adani debate gets rejected in Indian parliament, causing uproar
INDIA’S parliament was adjourned for several hours after pandemonium broke out when the upper house chair rejected opposition lawmakers’ demand for a debate on tycoon Gautam Adani’s tussle with a US short- seller.

The opposition had formally asked Jagdeep Dhankhar, the chair of the upper house of parliament, to suspend regular business on Thursday (Feb 2). They wanted to discuss public sector investments in “companies losing market value, endangering the hard-earned savings” of millions of Indians.

Dhankhar declined the request, saying their notification didn’t meet the requirements of the legislature. Opposition lawmakers in the lower house then shouted slogans demanding a government response on the issue, resulting in pandemonium and the adjournment of the chamber until 2 pm.
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https://www.businesstimes.com.sg/compani...securities
Citigroup’s wealth unit halts margin loans on Adani securities
CITIGROUP’S wealth arm has stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian tycoon’s finances following allegations of fraud by short seller Hindenburg Research.


The US lender’s move to restrict lending comes after a similar change at Credit Suisse Group, as Adani’s beleaguered empire becomes further engulfed in crisis.

“In recent days, we have seen a dramatic price drop of Adani issued securities,” Citigroup said in an internal memo seen by Bloomberg News. “Stock and bond prices have plummeted following the negative news around the group’s financial health.”

[lioncityftw]

Indian national admits they are fraudsters
https://www.dailyo.in/variety/scams-nira...22537.html
Why cheating comes naturally to Indians

Scams are generational

" When an Indian child is growing up, her parents ask her at some point: "Beta, which one is your favourite scam?" The kind of scam you like reveals a personality type—a guide to the future, indispensable to worried parents. My answer as a schoolboy was unwavering: "Mummy, fodder scam."

Scams are generational. Those who are born about now will ten years later have their own favourites: Rotomac, NiMo and others that will show up in the time to come.

We Indians are born fraudsters and hustlers. The big guns obviously hunt bigger game. The returns are higher. Every Indian cheats to the best of her ability. You do the best you can. It’s what school taught us. "


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[cityhantam]

https://www.firstpost.com/tech/news-anal...96001.html
. 

INDIAN SCAM CALL CENTRES LOOTED OVER US$10 BILLION IN 11 MONTHS FROM US SENIOR CITIZENS THIS YEAR

By the end of the year, Indian scam call centres will loot about $12 billion from senior citizens and other non-tech-savvy people in the US alone. FBI’s data shows that this is a 47 per cent increase from last year.

.

[lioncityftw]

Adani abandons US$2.5 billion share sale in big setback to Indian tycoon

[cityhantam]

(Bloomberg) -- Gautam Adani’s businesses have lost US$107 billion in a week, one of the biggest wipeouts in India’s history, after an explosive report by short-seller Hindenburg Research forced him to pull a stock sale at the 11th hour and led some lenders to reject his securities as collateral for client trades.

[Merdeka]

According to Hindenburg Research, Adani has artificially boosted the share prices of its units by funnelling money into the stocks through offshore tax havens.

This "brazen stock manipulation and accounting fraud scheme" is "the largest con in corporate history", Hindenburg said in its report.

Even before the document there were concerns that Adani had taken on too much debt.

HOW COME OUR CECA-EMPLOYED FORENSIC AUDITORS & INVESTIGATORS ARE UNABLE TO UNCOVER ALL THESE??!!??!?

Because as you mentioned, "ceca-employed" key word 

[debono]

Because as you mentioned, "ceca-employed" key word 

If it is a CECA-employed co. then it leaves much to be desired....................

[cityhantam]

Adani Investors Poorer By 1 Lakh Crore Today | Adani Stocks News Update | LIVE NEWS