[itisK]

A twitter thread which only summarises the information freely available in public domain.

https://twitter.com/amishra77/status...07292817264641

I think it deserves at least a cursory read, because some of the posts here make it seem like Adani just waved his magic wand and ended up with the vast business empire in just a *few* years. That is definitely not the case.

Even when we are criticising something, it is important to acknowledge the facts. Else, our criticism doesn't really hold any value.

[trippytragopan]

After a review of Adani, MSCI just announced:

“characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float pursuant to our methodology.”

We view this as validation of our findings on offshore stock parking by Adani.
― Nate Anderson
https://twitter.com/ClarityToast/sta...80596583383040

[poloman]

Originally Posted by jaaz

Above statement is wrong. Yes he has defaulted earlier, multiple times. Directly as well as indirectly too.

Most of the audits have been stopped or namesake in the last decade, so how can any Indian entity take on these companies officially. There were lot of reports earlier too, but all those have been silenced.

My common sense says, If there is no wrong doing, our answers should be straight and we should sue Hindenburg in US of A.

Can you provide details of loan defaults by Adani? Other than some accusations by political parties, please.

It's like a Ponzi scheme, which has to fall one day. Over leveraged businesses cannot run for long.

Toyota has $206B debt. Shall we conclude that Toyota is overleveraged and going to collapse

[volkman10]

Adani faces fresh risk as MSCI examines free float of its stocks.

MSCI says some securities should not count as free float
Adani Group shares have shed more than $100 bln
Norway's sovereign wealth fund has sold out of group
MSCI Global Investable Market Indexes due

Link

[DigitalOne]

Originally Posted by volkman10

Adani faces fresh risk as MSCI examines free float of its stocks.

Good move. SEBI should also mandate it that a public company should not have promoter holding > 51%. In the interim, public companies with promoter holding > 51% should not be part of any indices.

This Adani-Hindenburg episode should serve as a reality check to the regulators and should be used to institutionalize transparency in the markets.

[SnS_12]

Adani hires US legal powerhouse Wachtell in short-seller battle

Gautam Adani has hired one of Wall Street’s fiercest activism defence law firms to fight back against claims made by short seller Hindenburg Research, as the Indian billionaire battles to reassure investors about the financial health of his business empire.

In recent days, the Adani Group has tapped senior lawyers at New York’s Wachtell, Lipton, Rosen & Katz to advise it on how to stem the crisis facing the Indian conglomerate since Hindenburg accused it of accounting fraud and stock market manipulation in late January, four people with direct knowledge of the matter said.

https://https://www.ft.com/content/d...a-69bbd55d36f7

[CarNerd]

Originally Posted by ShortShifter

Good, Why should Parliament waste its precious time with a JPC, just because vella opposition parties have too much free time to spend ?

So all JPCs of previous governments were a waste of time because the opposition at that time had too much free time? Wonderful logic!

There are far greater issues that affects common man which requires urgent attention.

Questioning a company whose stocks are owned by a common man about the rapid increase in prices is not an issue? Questioning a company whose debt can put banks at risk in which a common man has savings is not an issue? Nice!

If Hindenburg ties up with the tool kit ecosystem in our country they can do a 1 Indian Corporate Hit Job per week and laugh all their way to the bank, thats how well oiled the ecosystem is, we as a nation must be more self aware than get triggered so easily.

When Hindenburg published reports about 3 American Companies and 1 Chinese Company, it wasn't a Hit Job?

If Hindenburg does it to an Indian Company, suddenly it becomes a Hit Job and words like Ecosystem, Conspiracy, Anti-Nationals, etc come into play, why?

By this logic, every allegation and every question about any Indian Company will be a Hit Job. So we shouldn't ask any questions or investigate any such allegations?

Any Company or Govt has to answer all the allegations or questions logically and factually not emotionally but I think they are inspired by this proverb:

[sj_koova]

Originally Posted by ShortShifter

Good, Why should Parliament waste its precious time with a JPC just because vella opposition parties have too much free time to spend ? There are far greater issues that affects common man which requires urgent attention.

If Hindenburg ties up with the tool kit ecosystem in our country they can do a 1 Indian Corporate Hit Job per week and laugh all their way to the bank, thats how well oiled the ecosystem is, we as a nation must be more self aware than get triggered so easily.

Seriously! You really do not want to know the truth? There is no smoke without fire.
Why there is so much hesitation for a JPC probe? Hard to believe it is about time, unless you have made this statement based on an insider information.
Every member in the parliament is elected and their time is equally valuable.

Once again, it is about Adani, not against the nation and toolkit. Why portray a single individual larger than entire nation. It is only a private limited company with unusual amount of shares with one family.

[tsk1979]

Originally Posted by poloman

Toyota has $206B debt. Shall we conclude that Toyota is overleveraged and going to collapse

When looking at at risk companies you should look at Debt to Equity ratio, not just debt. In volatile sectors upto 2 is considered fine, and in stable industries like steel and power 8-10 is also considered okay.

Toyota is at 1.06

Originally Posted by ShortShifter

G There are far greater issues that affects common man which requires urgent attention..

Well it depends. Some of us pay income taxes. So if a big company defaults and govt does a bailout of banks that money comes from our taxes.

Imagine you went to the market to buy Potatoes, but the chap took that money and bought lollypop for his girlfriend, you would protest right?

So we want the govt to act and hold a probe. The outcome may be that hidenberg was lying and then they can sue hidenberg and then we get the potatoes.

Or hidenberg was right, and adani gets punished for not giving you potatoes.

[deathwalkr]

Originally Posted by tsk1979

So we want the govt to act and hold a probe. The outcome may be that hidenberg was lying and then they can sue hidenberg and then we get the potatoes.

Or hidenberg was right, and adani gets punished for not giving you potatoes.

Shouldn't the probe be done by the regulatory authorities? SEBI and such? Asking genuinely. How will a JPC be better? How does that usually work?

[dragonfire]

Originally Posted by deathwalkr

Shouldn't the probe be done by the regulatory authorities? SEBI and such? Asking genuinely. How will a JPC be better? How does that usually work?

Maybe because it is not just a simple financial crime. Politicians are hand in glove with Adani in this con.

[whitewing]

Originally Posted by deathwalkr

Shouldn't the probe be done by the regulatory authorities? SEBI and such? Asking genuinely. How will a JPC be better? How does that usually work?

If SEBI itself has been found wanting or in someway (direct/indirect) contributed to the current situation, then a JPC( although noisy) would be the way to handle it.

[deathwalkr]

Originally Posted by dragonfire

Maybe because it is not just a simple financial crime. Politicians are hand in glove with Adani in this con.

Got it. So if ruling party does not allow a JPC then they look like they have something to hide (may or not be).

Let's hope sane heads prevail and truth comes out (*high hopes i have*)

[SnS_12]

It’s amazing when you look at the same story in different ways, it gives you a very different perspective.





https://https://twitter.com/abhishba...Sqaft5vjrt_aPA

[sachinayak]

Originally Posted by SnS_12

It’s amazing when you look at the same story in different ways, it gives you a very different perspective.

This is simple case of twisting of perspectives to suit ones narrative.

The concern that has been raised (on this thread at least) is about a specific group's business/accounting manipulation, and not on Indian economy. India is one of the fastest growing economies of the world and will perhaps continue to do so in the future. That said we cannot use this to sweep anything and everything below the carpet.