A [you know who]'s foreign funds + Jindal Poly Films' lawsuit

[lilly159]

https://boringmoney.in/p/-funds-jindal-poly-mystery

TLDR:

1. A news leak from Reuters says that SEBI has found the foreign funds that invested in A guilty of non-disclosure.
2. These funds want to settle with SEBI, which *may* be the end of the matter.
3. However, this will not answer the all-important question. Was it indeed A who was investing in his own companies via shady foreign funds?
4. Last month, India had its first class-action lawsuit in the form of Jindal Poly Films' shareholders suing the company.
5. The accusation is that the company sold one of its assets for an extremely low price to one of the Jindal promoters.
6. Unfortunately, there is very little information about the specifics of this in the public domain because NCLT suits are not public

 

[lilly159]

I had to censor Adani's name because auto-mod wasn't allowing the post to go through with it.

 

[chottokitty]

@lilly159 Why though? Reddit mods bought by Adani ?

 

[lilly159]

@chottokitty I wouldn't go that far. Probably too many Adani posts at a certain point in time and then they forgot to change it.

 

[multiarms]

@chottokitty He buys ministers not mods

 

[rae46]

@chottokitty Reddit bought by adani

 

[stanb311]

@lilly159 Thanks for the info

 

[psaltichrysostom]

@lilly159 Can you do an article whether Ambuja cement is or is not a Adani Group company?

I remember that the largest owner is a FI whose ultimate beneficiary is Vinod Adani. However in all their reports they have disavowed him as a related party.

 

[lilly159]

@psaltichrysostom There's nothing to say there at this point, honestly. It's an Adani company but the regulations are lax so Vinod is both a related party and not a related party at the same time, depending on when you ask.

 

[blaise]

@lilly159 Shrodingers Adani

 

[bassplayer72]

@blaise ROFL!

 

[rae46]

@lilly159 Noone killed jessica

 

[lisarebecca]

@rae46 That’s toh Piccadilly industries