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.

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.  

Fraud "Indian Media, Business Today" pushing Fake News for Adani

Fraud "Business Today" pushing Fake News for Adani : Adani Green Energy Limited. 

 

S&P Ratings are dubious at best, but they don't give these kind of Promotional details in ratings report.

The fraud Correspondent of Business Today does not cite any news agency, so it seems his editor and his lack of knowledge are the only source behind this report.  In this report,  they cite 2 Private Limited companies registered at ROC-Ahmedabad and with same Adani House address; in a group of 3 limited companies, as if they are listed and spread all over India. 

A business newspaper that can't get business entities name right should be closed down. 

"Wardha Solar (Maharashtra) Ltd, Kodangal Solar Park Ltd, and Adani Renewable Energy (RJ) Ltd.", Looks pretty Pan-Indian, right? Wrong. 

Let's rip the facade out of these companies, firstly, they are Private Limited company. Wardha Solar (Maharashtra) Private Limited is registered with Registrar of Companies- Ahmedabad and do not have a presence in Wardha, Maharashtra.A rudimental Google map check would have shown the journalist that, you will find NVR solar power and lots of other player there. But no Adani outfit, as of yet.

Zaubacorp clearly states, Wardha Solar (Maharashtra)'s registered office is not even in the state of Maharashtra,  but in Adani Corporate House in Ahmedabad. Full Address is :

"Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S G Highway, Khodiyar, Ahmedabad Ahmedabad GJ 382421 IN ."

 Kodangal is a Town in Telangana but my Oh my, Kodangal Solar Park Private Limited is in Adani House, Ahmedabad. 

Same Adani Corporate House address and even the email address is same .. Pragnesh.darji @ Adani.com 

🤣🤣🤣🤣

Adani can get new and fake people to be Directors of his fake companies, but can't get a new email id for new companies??

Again Google Map fails to point out to any Kodangal Solar Park in Kodangal, Telangana;  whereas they show every temple and every eatery in Kodangal town.

Must be an international conspiracy by Google, right? 🤣🤣🤣🤣

Adani Renewable Energy is at the same address too:

Third one is indeed a listed limited company and even has a Adani family member in Board of directors and other directors include directors from previous two dubious and most probably "Outright fraud" companies. 

Now it seems for one venture, Adani has two limited companies, Adani Green Energy and its subsidiary Adani Renewable Energy and took public money in form of shares (probably Bonds and loans from Government run Banks too), if you go by this business today report. 

Neither Business Today nor S&P, not even SEBI or Corporate Affairs ministry of India would however comment on these 29 companies that I found on CorporateDir.com 

All point to same Adani House Address in Ahmedabad, what kind of fraud are Adani Green Energy twenty-eight limited or Adani Green Energy thirty-two limited?

Entire BSE is trying to Coverup Adani scams

 Is BSE, NSE .. the Indian Stock Markets A Shady Scam?

Take a look at What value Of Adani Enterprises , BSEindia website Is putting up now.

Rs 1320.35, down 15.62%. Looks OK right? WRONG.

Reality is Adani Enterprise stock had hit "Lower Circuit" multiple times today and last time trading was halted, Adani was trading Rs.1017. That information comes from BSE's notification: 

So  the headline price was incorrect.. and it was rigged 30% up from market discovered low of Rs. 1017. How do we know that this stock didn't jump 30% up.. well, such a jump would violate "upper circuit" and that too would have been notified in this list.

After all, face-saving is also an art. Shamelessly putting up high price tags of Adani shares is a Scam.

And now BSE allowing 10, 5, 25 shares to be sold .. well above 1400.

In all probability, its one Adani shell company selling to another via BSE.

And BSE India is guilty of running that scam.  if BSE and NSE are not a larger scam themselves.

AdaniGate: Complete Silence of Indian Media Lambs

 Why Did Adani Withdraw his so called "FULLY SUBSCRIBED" FPO?

If you follow the lamb-driven Stenographer Indian Media, you must have heard "Adani said that is to protect FPO investors, who actually paid double the market Price (Of course, that level is only because of lower circuit.. real value is much lower) in FPO"

Reality Is this Forbes report , which found proof of stock manipulation and fraud in FPO sale also.

 Two more "Modi Toadie Billionaires" got embroiled into infamy in this FPO episode of AdaniGate , Mr. Modi-bhakt Jindal and Mr. Modi-Bhakt S. Mittal. As more clamouring started happening in New York circles as is to who is actually paying for $2.5 Billion share sale.

Subsequently, even Citigroup stopped taking Adani group stocks & bonds as collateral for margin loans.

DID ANY INDIAN JOURNALIST TELL YOU ABOUT THAT, even on YouTube? Slim chances, very very slim.

Even Credit Suisse, who loaned Adani a lot to let him pull the Lafarge Cement deal.. had decided what Citigroup did yesterday. 

Maybe BNP also, although haven't seen a press report about that yet. So Adani has no way to get any new Foreign Bank Loans. Surely Foreign Vessel Shipping Agent's Fees alone can't provide Adani the foreign currency required to run .. ports, airports, power transmission, green power generation etc. 

NO FOREIGN BANK WILL GIVE HIM LOAN 

Period.

HOW MUCH MORE WILL ADANI STOCK FALL?

Some overnight experts are saying "Hindenburgresearch said 85% overvalued, so upto total 85%".

Now if a stock becomes Overvalued because of market conditions or windfall by X%, then that can correct around that percentage.. (For example, Amazon or Zoom share price rise during Pandemic.. or even Moderna in last 2 years)!

But if a stock becomes Overvalued because of fraud and manipulation, then it loses much more than just Over-valuation .. then it loses its goodwill and investor confidence. 

The very young would not remember what happened to Suzlon or for that matter Satyam Computers (which was 4th biggest IT player in India then).

Adani group is heading towards the bottom of a dark, very dark abyss and it will take some its sponsors with it too.

If Former ICICI Bank CEO was arrested for Bad Banking Loans .. Why isn't ED & CBI investigating those CEOs and Chairpersons, who gave Adani "Collateral Free Loans"?

I am no fan of Chanda Kochhar, but few Adani friendly Bankers and Investors do come to my mind, Ms. Arundhuti Bhattacharya & Mr. Rajnish Kumar of SBI and M.R. Kumar of LIC definitely were closer than close. Uday Kotak was also very close to Adani. 

Meanwhile, it has been reported in Indian Media ( which means it could also be untrue ), RBI has asked all domestic banks to declare their exposure to Adani group. 

Now PMO will be very unhappy, if any Bank proved "Zero Exposure To Adani". How dare they not invest or loan to PM's favourite crony. 

On 27th Jan, I heard Indian Regulator "SEBI" had started reading the "Hindenburgresearch report" .. One week has passed by .. I guess they are still reading. Because No Indian Media Lamb has bothered to ask SEBI , "Have you finished reading?"

SEBI's slow reading can only be compared to RBI's counting of demonetised currency notes. Both never ending Saga.

Panauti Media: Ask if Adani Group CFO is even Indian Passport holder

 Panauti Media: Ask if Adani Group CFO is even Indian Passport holder .

Who Is this Jugeshinder Singh .. is he competent enough to be an International Conglomerate's CFO ?

 

These are screenshots from Mr. Jugeshinder Singh's LinkedIn account. Of course, one can say, it's not mandatory to fill in all details in LinkedIn Biodata but I don't see any "Chartered Accountant" or "Cost Accounting" or "MBA" degree mentioned.

Fine Production Engineering degree is there, when they do teach Economics and Accounting.. but not even the length a B.Com student has to study,  Its true for all the universities in India and Punjab University is no exception. One at least expected an IGNOU type MBA !!

Maybe Jugeshinder did self-study a lot. He claims he represented India in 100m hurdles, May be he did, but without mentioning Medals won .. In same LinkedIn bio he said that about representing India. 

Ditched India for Australia, since 1996.

He bio says, he joined Macquarie Bank (Probably at Sydney) as Senior Manager.. that's his first posting, lasting for 6-7 years. After all, there are no Australian Bank in Bhatinda or Jalandhar. 

Then one year in Merryl Lynch .. that's it Mr. Singh claims that he opened a Family Business in Australia. It smells totally like he got his permanent residency and then Australian citizenship??

His Australian Firm "MCG investment" looks directly for Cricket Fans only. He says he founded that in 2004 in Sydney .. ( Startup guy) .. and worked as MD of his own family business.

In 2012, this bright startup guy decided that his performance in his own company is so great, he deserved to promoted to Chairman of the same company. (A note to all startup guys, give yourself such promotion sometimes .. as it is, no one prints visiting cards these days).

Now on OpenCorporates.com, you can search these things.. And I found, one "MCG Investment" and one "MCG investments", both from Sydney ( and not Melbourne) , both registered in 2016.

In both cases, it looks like a shell company, and they don't list any Directors .

As it is, at the home of SCG , Sydney Cricket Ground, promoting Melbourne Cricket Ground or MCG, is a frowned upon activity.. I assume he is mentioning either or both companies are his.

So did Jugeshinder Lie about his startup? Was it really from 2004 or 2016? What was he doing in that period? Was he in New Zealand, there is a New Zealander Jugeshinder Singh, who was active in New Zealand in that period, who ultimately closed all those businesses?

In 2020, in middle of Pandemic, he did an online certification of "Australian Directors" .. is he Indian Citizen or Australian? 

What is this Foreign National doing standing next to Indian National Flag , defending the crony capitalist business house,  when he himself if hardly qualified to be a CFO of small firm, let alone be a Group CFO of that conglomerate?

Indian Media are so 3rd grade that they don't check, Adani Airports MD is actually a Dentist and Adani Group CFO is hardly qualified and no longer an Indian citizen.

Well, Adani-lover Media even admits Jugeshinder had given up on his Indian Citizenship and currently holding Australian Passport. This information came via @BullandBear6's tweet. Looks credible enough. 

Of course, he is the perfect candidate to lecture "Indians" and the world on "Indian Nationalism". Right?

SEBI, oh SEBI ... would you like to update Jugeshinder's KYC? Does he have an aadhaar card? At least name Australian citizens as Australians,  in your database!!

Every Indian must read the expose on Adani by Hindenburg Research

 Read the Hindenburg Research expose on Gautam Adani, before it's too late.

 

Here is a link to that report, https://hindenburgresearch.com/adani/

 Since Sensex and Nifty both indices now have close links with Adani group of companies, this could plunge Indian Shares Markets to unprecedented levels .

Some of these shell companies that this report mentioned were already exposed by ICIJ, but Indian Media Concluded that those were from his elder brother Vinod .

Now these group of Researchers are from fund management field and they were able to get into inside handling of the funds which are heavily invested in Adani group of companies .. and basically it was discovered that these funds are a front for Gautam Adani himself.  

Just by rotating the same share from one shell companies' fund to another Shell companies' fund, They were able to create more fake value for their shares.  Only a share's chart shows such signs of growth and the Gautam Adani's proximity to India's PM becomes well known, two things happen:

1. Local gullible Fund managers put people's money in them.

2. Local Banks extend the already humongous credit line given to Adani. 

That's how this group has managed over 813% jump in market Capital. Although I have zero sympathy for people who invest in well known crony capitalists like Adani, but a stock market collapse and banking catastrophe would spell doom for all indians.

This report does not mention Modi by name in this con act, but every one knows what Modi does and Adani does are one and the same.