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