Pandemic of Ignorance, Stupidity and Corrupt Reporting in Business Media

Who got 553 Million USD loan from US international Development Finance Corporation?

 If you follow Indian Media and Indian Press, you would think that you know the answer and its Adani group . 

Well, you would be dead WRONG.

 If you think, such skewed and falsified Reporting lead to Adani buying back their own shares through proxies and shell companies to jack up their share prices and Standards & Poor managed Sensex jumping up to record levels .. Well , don't lie, you haven't had any such thoughts ,  before you read this post.

Metamorphosis of News to Bad News to Fake News

Lazy Reporting Event Number 1 : Reuters

 

What Reuters should have mentioned that although proposed Colombo container terminal is managed by Adani Ports, the company is a separate entity with a separate name and separate business address in Sri Lanka. 

Colombo West International Terminal Private Limited

Somewhere down in last paragraph,  Reuters managed to mention that Adani group owns 51% stake in this venture and reluctantly mentioned the name of John Keells Limited ( actually its John Keells Holdings Limited) and Sri Lanka's Government has major shares in it.

We know the shareholding pattern of Colombo West International Terminal (CWIT) well before Reuters wrote the post (Sorry boys, it wasn't detailed enough to be called as News Article); it was reported in November 2022, what the shareholdings are:

Adani Ports and Special Economic Zone (APSEZ) : 51%

John Keells Holdings (This is one of largest Srilankan conglomerate and it is S&P Sri Lanka Stock market index) : 34%

Sri Lanka Port Authority, fully Government owned : 15%

Bloomberg did a hachet reporting job as Well..

 

Maybe Michael Bloomberg has been getting a series of bad fortune cookies from the Chinese, so Bloomberg declared entire Colombo port as Adani's personal port.

Perhaps Bloomberg doesn't understand the difference between a port and a container terminal.

 Bloomberg doesn't even know that DFC loan is specially earmarked for transhipment facilities on Colombo West International Terminal, well DFC released a 6 page pdf on the loan but if they had to read that, wouldn't that be an insult to their official employee dogtags that hung on their shoulders?

Did any of the media report that the loan is for a 20 year period? DFC chief Scott Nathan expects that both Joe Biden and himself would be dead and buried by then!

Had they read the ridiculous DFC report, they would have noticed "Deep Water Container Terminal" is flawed from beginning..

Now this project was 789 million USD project last year, now cost has gone up to 851 million or what? DFC loan adds the total loan (they call it Funding) to 851 million? 

Or is additional 62 million is DFC's Kickback?

Although DFC outlines, various risk assessments in its report but nowhere did they mention Hindenburg research..

Here I give you the proof, Hindenburg research is not found in PDF document..

DFC went on to list Marine Ecology, Effects of Dredging, Contacts with Fishermen as potential risks and social impacts in flimsy terms and glossing over the reality. 

This transhipment pipedream is as much unrealistic as Chinese transhipment mega project failure in Sri Lanka. That's besides the point, when this project fails, neither Indian billionaire Adani nor would Sri Lankan Millionaires in John Keells Holdings would pay the loan back.. the burden would fall squarely on ordinary folks there, for that meagre 15% stake of their government.

 

In fact, DFC report does not mention Adani by name even once in their 6 page pdf. 

 

Enter The Fake News Maestro: Bloomberg,  the iceberg that one day would sink the titanic of truth.

We have seen that original DFC document does not mention either Adani or Hindenburg by name, yet Bloomberg manages to catch hold of a sixth cousin twice removed relative of DFC to say, this fake news.

It is well known in diplomatic circles that all DFC loans are geopolitical kickbacks and they never achieve their publicised goals. But Bloomberg would never say that..

The shitstorm such bad fake news spawn and derivative news article, results into further worsening fake news..

Should I laugh or should I cry at this fake news?

Conclusion:

Based on Such bad news, Adani stocks are rebounding like crazy, while India's currency continues to tank against US dollar. 

What would you do? Cheer on fraud Billionaires as stock market rises? Or lament on the demise of Indian rupee and look helplessly on real inflation that refuse to show on official records but effects your daily life in India anyway.

Dear Chief Justice of India

 Your Adani Scam Probe Expert Is Hardly Working on The Probe

Out of sheer curiosity, I checked the recent Tweets of Nandan Nilekani to get a hint of the progress of the expert probe panel experts. 

Does the Chief Justice know, the expert panel expert hardly had any time for Adani probe last week.. in his busy social calendar.

 On March 6th , he met Bill Gates.

Upto March 8th, he was busy giving lectures.. and sharing the YouTube videos of his interviews. 

I doubt that if the Expert Panel experts even read the Hindenburg Research Report , even 2-3 pages of it.

Let's see what Nandan Nilekani did next?

 Busy Congratulating RBI with a video message on March 9th .. some expert he is, the job the chief Justice of India gave him involves investigating Adani group company's shell accounts in Mauritius, Dubai, Cyprus, British Virgin Islands and other Tax havens.. here he is, sitting in Bangalore enjoying "Free Modi Payouts" .. Does he even know, how many of this countries follow British style of accounting and which follows, American style?? Some expert CJI chose!!

If you think Nandan Nilekani, will be joining the expert probe panel in the very near future? YOU ARE AGAIN MISTAKEN!!

Mr. Nilekani is looking forward to attend another conference, "International ODR forum" in Bangalore from March 18th..

So was this decision to create such a sham "Probe Panel" a hogwash, your Lordship? 

Has Narendra Modi already ordered "a clean chit" for Gautam Adani and Brothers? 

Your Lordship, was there pressure from Union Government to include Modi cronies like Nilekani and Kamath? Or is your judgement of character as lousy as your lofty claims, which look lovely only in "Fake Liberal Newspaper's Editorial"?

Are you aware that the Adani Probe Panel members are yet to get together, meet face to face with Hindenburg Research Report? 

Forget having anyone summoned to appear before them? How can anyone appear before them, as they themselves are not at same place?

Adani Green Energy Stock Scam : Enter The SBI Capital Trustees

Hindenburg Research proved Right by Adani disclosures, conclusively 

AND

Adani Group pledging shares of Adani Green Energy Limited to SBI.

Third Grade " Economic Times" and their TV channel ET-Now as well as CNBC-TV18 (Ambani Owned) and extremely Sub-standard "Business Standard" has been Tom-tomming a propaganda that Adani Group has been "meeting the investors" in Hong Kong and Singapore and getting huge response . 

But except Fly-by-the-night GQG Partners LLC of US tax haven state of Delaware .. We haven't heard a pip-squeak. 

This Propaganda was so powerful that many Modi critic good journalists who has been ostracized by Modi-fan boy Media Barons(often termed as Godi Media in India, colloquially ) even mentioned that in their YouTube Podcast . Interestingly You are likely to get more credible information from these YouTube Videos rather than watching Godi Media . 

What Economic Times and Business Standard and others failed to report or deliberately suppressed is the Following :

On 3rd March, 2023 .. Adani Group Had to file a disclosure to the stock exchanges Of India (BSE and NSE) and SEBI that The promoters will put a substantial amount of Adani Green Energy Limited (AGEL) shares in open market but only for "Block sale".

 

This is the annexure of the Adani disclosure, but this is particularly revealing because it gives the break up of which entity or individual or family trust sold the shares on 2nd March .

This also proves that Adani Group follows a practice of "Stock Parking" that Hindenburg Research has accused it of .  Surely last 3 in that list are not "Adani Family Members (like Uncles, Aunts, Cousins). Let me zoom it for you:

Infinite Trade and Investment Limited 

Gelt Berry Trade and Investment Limited

Spitze Trade and Investment Limited

Are these Indian Companies? No.. Which means they won't pay a single Rupee in Capital Gains Tax or Corporate Tax or Income Tax in India.  When Hindenburg research comes knocking, even Adani group's Australian passport holder CFO hides behind Indian National Flag and BJP trolls and Godi Media... when it comes to paying tax, "We are promoters but from Mauritius" attitude.

 last one Spitze Trade and Investment is not.. it's in Mauritius. 

We do find Infinite Trade and Investment Limited in Mauritius corporate registry.. 

Hindenburg research did found out that Amicorp and these companies do have a Vinod Adani connection. At least Infinite Trade and Investment does.

2nd Company, Gelt Berry Trade and Investment limited.. is a Nonexistent entity.  How SEBI, NSE, BSE is ok with that being part of promoter of Adani group, is a Mystery. We can't find it in any country's corporate registry, not even in Opencorporate.com

Did Adani open this company on Mars or Moon?

Is Adani Group unaware of the spelling of its Mauritius company? It was a shell company meant for parking stocks, after all:

We find Gelt Bery Trade and Investment Limited, again in Mauritius.. in that case, Adani can't even spell its fully owned subsidiary aka Shell company name.

Still its OK with SEBI, the regulator.. and National Stock Exchange and Bombay Stock Exchange.. who dare not write a clarification to Adani group for the fear of ruling BJP and its Trolling Law Enforcement agencies. "It's their shell company, they can write Gelt Berry, Gelt Bery, Geeeelt Berrry .. what's in it for you?" attitude. 

All three companies share the communication address in Mauritius registry as Vinod Adani's Amicorp. 

Mauritius, Ebene, 6th Floor, Tower 1, Nexteracom Building,

These disclosure proves all Adani brothers are very much in the promoter group. All is well in their family life, they merely create 1000s are companies in Tax havens to cheat the country where they earn profit or take people's money from Banks and Insurance companies... with no intention to pay it back.

On March 8th, Adani Green Energy Limited came up with another disclosure: Enter SBI Capital.

 Any company who had just received "Great Response" from investors in Banking cities like Singapore and Hong Kong ... and just sold a great number of promoter shares of the company.. would they go pledging shares to State Bank of India's (SBI) Investment arm (SBICAP) to get fresh loans? 

Common sense says, they should not go pledging shares now and adding up debt as they are highly leveraged companies already. 

But they did and SBI where Modi Government holds Majority and recruits top executives directly immediately consented. Knowing that they might not be able to pay back and no International bank now accepts "Adani group shares as collateral". This means if Adani defaults this one, taxpayers have to bail out SBI again, its called Bank Recapitalisation by fraud Economists and corrupt Indian Media .

Only kind of Bank Recapitalisation that can be supported is by trading shares of the bank.. and not by Handout. But how can Government sell it's shares to itself. 

When it comes to taking dubious investment decisions in favour of Ruling parties "Oligarchs" ... these banks are independent private entities 

When it comes to Bailing out time, these banks cry .. people's savings are with us, entire system would collapse. 

Did Government of the day consult the poor Indians, the villagers, the students and the pensioners... before appointing these Directors in SBICAP Trustee Company Limited?

 

SBI has many Investment companies is the same office.. some listed and some fully owned by SBI. But whichever units wilfully makes bad investment,the liabilities,  they all come back to SBI.

Adani Green Energy has not been the only beneficiary of SBI's generosity this week.

The promoters of Adani Transmission and Adani Green Energy have pledged equity of 0.76 percent and 0.99 percent in favour of SBICAP Trustee Company.

 

By some amazing magic, these dubious companies are opening about 5% up every trading day  and no retail trade in these Adani stocks actually takes place entire trading day. See last 5 days trading pattern.

Meaning perhaps all shares are either pledged or help by promoter in India or in shell companies. These stocks are not exposed to derivatives where it can be shorted, that the price discovery mechanism of "BULL" shit SEBI.. No wonder, when result declaration time comes .. the home shopping network of shares "CNBC-TV18 and ETnow and Business Today" never really likes it.

Indian Media would have fallen silent, if Copy-paste weren't invented

 Oscar for Best Stenographer goes to India's Godi Media: ha ha ha..

On 2nd March, Adani Group's Tainted Listed Company "Adani Green Energy Limited" released a fake news for Circulation , The Company Secretary of the Group himself signed this and passed on to NSE and BSE .. who happily issued a "Notification" on this stock, so if you click on them.. you get the PDF .. let me show you the content:

They even gave 3 bullet points as "Editor's take", yeah, even the editors of Indian Media & Press need to be tutored.. Present lot is the "Brain-dead" kind.

I'm sure, CNBCTV18 and ETNow presenters orated and narrated this Dictation from Adani group. 

Let see what the Press or Quasi-press or Pseudo-Media or Godi-Media did ..

This is "Business Standard" a well known Business Newspaper in India on March 2 itself:

Copy-Paste Headline... Check

Copy-paste rest of the Press release ... Check 

 Thankfully, the Stenographer didn't copy paste "The Editor's Take" .. 

Not a darn picture of the site of Solar Power Plant, well, that will be difficult you see, as Adani group claimed it's a hybrid power plant .. you have to show Both wind-turbines and solar-panel farms .. bit tough if either don't exist. 

Let's see what "Economic Times" of India did .. the perennial "Fake business news peddler" ..

Same, Same, Same Shameful Copy-paste:

Their advertisement positioning is different and fonts are different.. otherwise word-by-word copy and paste. 

So you see, they didn't even fact-check:

FACT CHECK by Me:

The production unit is to be Operated under another fully Adani group owned Subsidiary, Adani Hybrid Energy Jaisalmer Four Limited.

This "FOUR" part is important: 

Because on the Month of October, 2019..

5 companies were registered at address  "Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S G Highway, Khodiyar Ahmedabad Ahmedabad GJ 382421 IN "

What is very Awkward is that.. in same month, 5 Limited but not listed companies were set up by Adani group:

1. Adani Hybrid Energy Jaisalmer One Limited.

2. Adani Hybrid Energy Jaisalmer Two Limited.

3. Adani Hybrid Energy Jaisalmer Three Limited.

4. Adani Hybrid Energy Jaisalmer Four Limited.

5. Adani Hybrid Energy Jaisalmer Five Limited.

 All registered with Adani group's Company Secretary's email address and all with a capital of 100,000 rupees (1 lakh) only.

All Directors of these 5 companies are middle level employees of Adani group and in a cluster of 3-4 directors per company.

 How do you start a solar or wind power firm with 1 lakh? Well, you can't.. that's why Adani Green Energy created these subsidiaries, "Take loans on the name of Subsidiary ones, Take loans on the name of its parent company then, Take loans on the name of its parent.." .. sooner or later, all auditors are going to forget, that these are all part of the same mesh.

If one or more are fictional power generation companies, Adani will simply tell his political patrons to restructure those debt and pass some of them to its immediate parent or another company and simply strike-off the troublesome company. This fear is not irrational, this has happened in other Adani group companies. 

Who would pay from these Adani misadventures/Frauds:

I managed to spot an under-construction site near Jaisalmer on Google Maps ..

He says via Comical Advertising:

Step 1: Quality pays for itself..

Step 2: Quality begins with You (the commoner)

Step 3: Looks like threat of kidnapping,  if You (U) don't pay .. 

Adani Fans must be elated that I found an Adani office at Google Maps.. well, hold your horses! 

This says only 180 MW Adani Solar plant, not 8024 MW .. that too, it's under construction.. Fine, I may agree on Argument-sake, that Google didn't update the map and this 180 MW has been commissioned.. but that still doesn't prove any of lofty claims of "Adani Green" communique.. where are the rest of power plants?

This is Opposition ruled state, Rajasthan.. Would CM Ashok Gehlot clarify? After all, state Government must have given this land to Adani for free?

Do they know, Entire state of Rajasthan in India produced 32.8 Gigawatt of Electricity in last declared financial year, all operators included.  

And Adani group had claimed they have commissioned 8 Gigawatt of capacity, that too from solar plant in desert land, in 9 months? What are these youngsters, who invested in Adani Green reading the fake news, learned in universities and MBA schools, how roll weed and smoke it?

There are other Companies' solar plants in Operation near Jaisalmer, like a huge one in a place called Bhopa.. another huge one, near Jodhpur, where the operator is showing huge loss and high debt ..

Is this not misleading the public? By Adani, By Media, By Entire Political Class?

Ji Kyun Ji Partners and The Rajeev Jain's clandestine Fund Management

Ji Kyun Ji (GQG) Partners and The Rajeev Jain's clandestine Fund Management : The Long Story, Not the Indian Sock-puppet Media Version

 Indians must have heard this company name, "GQG Partners" for the first time only in last week. Rajeev Jain on the other hand is something most Indian had heard of, almost everyone knows 2 to 20 different Rajeev Jain(s) in India. 

This is not about them, but about Indian-born American citizen, who runs some GQG fund. His main clientele are Pension Funds , NRIs (Specially "Hindus for Trump" group) and Rich American Widows .  

Pension funds & rich widows have to invest minimum of half a million and are called as "Institutional Investors" and this fund also accepts money from middle class Americans and NRIs, provided they give $2500 first. Basically they take money in smaller amounts also like India's own infamous Chit funds. The source of all these screenshots are from a draft report found SEC advisory archive, which had neither approved or disapproved this GQG fund.

His main company is Registered in US Tax haven state of Delaware and like most fly-by-the-night operators in US Financial Sector .. is a "Limited Liability Company". And He had opened branches in UK and Australia.

Source of these screenshot is the Opencorporate website. I will come to UK and Australia outfit's operations little later. Let start with US company, where it all began.

On the Topic of LLC , general guidelines of SEC is, Trustees are only liable if it can be proved that they acted in bad faith, gross negligence or malpractice. 

Multiple US government and SEC advisories also state his company being from Kansas city, Missouri and Fort Lauderdale, Florida  and New York. He made his money during "Zero to Negative fed rate" era. Even data from SEC advisory report shows that. "Trump Trade Rally" or the "Stock market bubble" of 2017 to 2019 helped every small "Fly-by-the-night" operators.

 

 This GQG fund had one and only one, Portfolio Manager, Mr. Rajiv Jain .. who was also claimed to be the CEO of GQG partners (of Florida office) as well as Chairman of that firm. 

For GQG Fund, Mr. Rajiv (Sometimes spelt Rajeev) Jain is also responsible for investment adviser as the Chairman (perhaps Tableman and floorman also) of GQG Partners

 

 if you think, I'm doing copy-paste of same sentences .. SORRY.. That is what SEC advisories do.. they have a template (probably Microsoft word) and they just copy-paste same thing over and over again. For example, 99% SEC advisories cite same Risks for all funds of same grade. However in this screenshots, This report has claim Rajiv Jain, GQG partners, Florida has contractually obligated to waive the consulting/ adviser fee from GQG partners, Delaware for this GQG Fund for which they gave a Kansas City, Missouri mailing address.  I'm sharing that mailing address down below:

 

Google maps now says, Express mail address of Kansas City, Which belonged to DST systems.. well their main office in Kansas city is Permanently closed. God help the investors trying to redeem their investment in GQG funds by Express Mail.

 

GQG funds doesn't consider US mail or any other mailing service as its agent. So I don't think, they will walk 10 minutes from mailing address to DST systems, main office to check whatever is happening there. 

SEC personnel who drafted this report, had no official prerequisite of knowledge of basic geography.. how far, Kansas City is from Fort Lauderdale, Florida and how far it is from Boston, Massachusetts; where this funds assets are kept under the custodian: Brown Brothers Hartman & Co.

I

If you complain like me, then GQG will send Lawyers from Philadelphia firm Morgan, Lewis and Bockius ..

Poor SEC chap even forgot to update "Independent Registered Public Accounting Firm" section for GQG funds .. It seems GQG Funds prospectus is source of SEC report.. whatever is present their like Fund Trustees biography or Portfolio Manager biography is word by word same.

 On Fund Trustees and their shares and compensation/salaries from the Fund, this topic report says:

Independent trustees all receive annual compensation and because the share-holding is less than 1% .. so every thing is "all right" .. All but one of Trust officers are from SEI investments, Philadelphia.. but everything is "all right" because except Chief Compliance Officer of SEI, no one received any money from GQG as regular Compensation.

 Yet no RED FLAG.  Of course, this report doesn't give Green Flag also and I'm eternally grateful to SEC and the author of this report for sharing this.

MAY I GIVE A SUGGESTION TO SEC? PLEASE INCLUDE AN ORGANISATION GROUP CHART , where all registered entities (parent company, branches, subsidiaries and joint ventures) are listed and colour code each entity based on type of company (LLC, LLP in one colour, INC, Limited company in another colour, Private company in another).

And all independent Companies acting as an agent of the company can also be represented in that chart via an arrow linked line. Any cross-holding can be represented by another dashed line connecting two entities. 

Declutter your documents, SEC .. not everyone is a lawyer who loves to read same thing over and over, so he can charge 1 extra hour to the client. 

Let's Switch Continents: let's see why GQG is Private Limited company in UK and it's performance.

 Apparently GQG partners in UK is barely one or two cubicle operation. Thankfully to people like us, UK discloses the annual financial results on internet and we find total revenue of GQG was only £600,000 ..

And they have only 3 employees there..

All the revenue came from GQG partners' US based funds. 

So UK operation can't be the source of any single investment which is over 1 billion. So far the data from these reports show that given their claim of diversified portfolio and salary patterns of Senior People, even any single investment of 100 million will be their tallest order and champagne bottles will be cracked open ..

Among clients who already invested in US funds of GQG, only BNP Paribas can be considered "Big Bank" .. so where did this money came to "GQG fund" ..

Let's Take A Look in GQG Partners, Inc; Australia

 

Aha! They opened a branch in Sydney Australia as GQG Partners, Inc .. this looks promising, as GQG's US outfit is LLC and UK outfit is Private Limited they can't sell shares in stock market... but any "Inc" or "Corporation" or "Limited Company" can..

And surprise, surprise.. they are listed in Sydney Stock Exchange.. and GQG shares are losing its share value.. ever since they were listed at 2 Au $ and with Adani Investment news fell 3% more.

There are reports that 4 Pension funds who had invested in GQG, have asked; Why their money has been invested in Adani group after the Hindenburg research report? 

It's there on Australian Reuters report, which by AI  magic gets automatically redirected to Reuters India report in India..which says "Adani shares jumped 17% after GQG investment" and completely ignoring the fact that "GQG is a penny stock in Australia and still it fell 3%"..

Even "BBC World (meaning Singapore) Service" chose to report only Reuters India version.. 

As if, India would not feed US and UK foreign secretaries at G20 meet .. in case they report the truth from Australia?

Fact is, GQG will fold operation.. whenever they will face serious redemption pressure. The hints and clues are all over their documents and the Parent company being a "Limited Liability Company" .. top executives would not face any legal problems. 

In fact, they must have swindled enough dough in Cayman or Virgin Islands, to have a rich, elite lifestyle till death.  

Adani's Mundra Aluminium Scam explained

 Adani's Mundra Aluminium Scam explained: why this Bauxite Mine LOI is absolute Fraud based on Fake spread by Adani, NSE/BSE, Indian Media (Including Foreign affiliates like Fortune India) 

FIRST THE RATES, HOW MUCH IS CURRENT RATE of ALUMINIUM?

 

 According to London Metal Exchange, it is 2373.00 British pounds(£) for a lot of 25 Tonnes. 

You know, just like Crude Oil is sold in a measure of barrels, metals are sold in lots. A lot of Aluminium is 25 Tonnes. So a Ton of Aluminium is priced at 2373/25 = 94.9 £, lets round it up to 95£

So the market rate has been established, let me remind you, entire Kutrumali bauxite block has only 128 metric tons of mineral estimated deposit. I don't dispute, this bauxite can be found in eastern ghat hills but it is also known in mining circles that you never get that kind of deposit extracted in short period of time.

Since Mundra Aluminium has not set up any office or production unit in Rayagarha, Odisha and didn't even recruit anyone for that project, so jumping of Adani shares are premature and excessive. Let's see, which private Aluminium producers are currently ruling the market. Please note, they are all scum companies and I don't support anyone more over Adani. 

The Market Leader in Aluminium production (private companies)

So world leader can only produce 6.6 million metric tons of Aluminium. Even India's (or is it UK's now) Vedanta produces 2.2 million metric tonnes and that gave them world number 10 place in this list.

So total revenue that world number 1 from China can generate in a year in LME rate is about 660 million pounds or 700 million USD only. Remember they have multiple factories or production units and whereas Adani has Zero protection unit in operation or even under construction under the Mundra Aluminium limited. 

If you look closely, all top 10 Aluminium companies are led by cronies of Xi Jinping, Putin, West (Rio Tinto) and even from UAE and India. But they do produce the Aluminium metal which is currently being used from Window frames to Aircrafts, so Aluminium is useful for the city-life, there is no denying that. 

Does This Mean a "Letter of Intent" for a Nonexistent Production Unit of Mundra Aluminium, be termed as "Contract of Captive Bauxite Mine" as "Fortune India" did?

Show us the Money Mr. Chittaranjan Kumar? From where will Adani buyback the share-backed loans? If he had that, would we even raised an eyebrow, No.

Stop taking Dictation like Private Secretary and why oh why is Fortune India calling "Letter of Intent" as "Contract" ? Do you not understand, LoI is not legally binding and is only an document to get Bank loans to fulfil the financial obligations of the contract? I'm all for young people joining Journalism but if ends being cheeky and Oversmart fake news generation then I have to rethink my position on that.

How much more Public Sector Bank's money shall be thrown in Adani's damaged and sinking ship? Fortune Tried act cute and started calling Mundra Aluminium Limited as MAL. Now there were another company whose scrip is called MAL, an unrelated company Meyer Apparel Limited and some even more stupid broker started dumping that stock..

 

Don't blame me, I never called Mundra Aluminium as MAL, that was done by "Misfortune India" and their ilk.

Nobody in Indian Media, including "Misfortune India" managed to speak with the CEO or CFO or MD or General Manager of Mundra Aluminium Limited. Do you know why? 

They DON'T EXIST, just like this MUNDRA Aluminium Limited offices DO NOT EXIST.  It is a paper company with 3 directors who sit in Adani Corporate House and they are not Full-time Directors also ..

There is one Atmaram, who is Director in 4 other Adani companies, one Sajal, who is Director in 3 other companies and one Vinay Prakash, who is Director in a Dozen Adani company including Adani Enterprises.

Indian Media had produced this fake news to hike Adani shares and made Adani stocks vulnerable to shorting again. 

In middle of all that, only people's savings in Government banks gets more vulnerable as Modi would like to help Adani types instead of middle class in a financial crisis.  SHAME,  what a SHAME!