A $65 billion bailout or $65 billion scamIndian gov will have to decide on Adani bailout by the end of next week.
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A $65 billion bailout or $65 billion scamIndian gov will have to decide on Adani bailout by the end of next week.
Stock manipulation AND accounting Freud.I have read it. Its only accusations about his business is that he does stock manipulation through shell companies. But point remains same...what now? Storm is gone. Most of his stocks are stabilised now.. Majority started moving up again. As I said even after recent dip, he is still sitting at 200 billion USD with hardly 25 billion as debt i.e 12-13%. He is going nowhere.
What exactly is $200 billion ?I have read it. Its only accusations about his business is that he does stock manipulation through shell companies. But point remains same...what now? Storm is gone. Most of his stocks are stabilised now.. Majority started moving up again. As I said even after recent dip, he is still sitting at 200 billion USD with hardly 25 billion as debt i.e 12-13%. He is going nowhere.
Stock manipulation AND accounting Freud.
While there is definitely still crony capitalism in India but institutional corruption has definitely gone down a lot during the Modi years. Gautam Adani has been a very successful first generation businessman and in a country like India where the demand for capital for mega infrastructure projects outstrips supply, it is difficult for even honest politicians across political parties to turn down an entrepreneur who is willing to take on projects no one else is.
While Mr Adani's rise was undoubtedly intertwined with Mr Modi's, I dount his downfall will be. State institutions have not stepped up to help him during the recent rout and the Finance Minister has even said it is a company specific problem, not an attack on India. Mr Modi has had an incorruptible image so far and I am sure he will not sacrifice that to save the Adani group.
That said, no illegality or fraud has yet been proven. The main issue is that their shares had been trading at sky high valuations compared to their peers. As that corrects, Mr Adani and equity investors in his group companies have and will undoubtedly lose money. It is not clear that there will any wider systemic contagion or even that the Adani group will have problem paying its debts. In fact they have announced they will prepay some of the loans taken against pledged shares.
Can some one explain in layman's term what he did?Adani has been accused of stock manipulation. Of course I expect Indian authorities to look the other way
Can some one explain in layman's term what he did?
But what his critics are saying he did.We do not know what adani did
He is accused of
stock manipulation
accounting fraud
it is easy for Adani to deny stock manipulation (assuming he did not). he did not
We do not know what adani did
He is accused of
stock manipulation
accounting fraud
it is easy for Adani to deny stock manipulation (assuming he did not). he did not