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.