What is stock parking? Mahua Moitra’s latest attack on Adani Group
In her latest attack on the Adani group amid Hindenburg’s ongoing defeat, TMC MP Mahua Moitra on Friday shared a recent analysis of a column that suggested foreign portfolio investors (FPIs) failed to buy Adani stocks amid significant highs and Deeps sold, and asked for Indian market regulator Securities and Exchange Board of India (SEBI) to take action if illegal stock parking is involved.
In her latest attack on the Adani group amid Hindenburg’s ongoing defeat, TMC MP Mahua Moitra on Friday shared a recent analysis of a column that suggested foreign portfolio investors (FPIs) failed to buy Adani stocks amid significant highs and Deeps sold, and asked for Indian market regulator Securities and Exchange Board of India (SEBI) to take action if illegal stock parking is involved.
“Bloomberg with a column talking about how some foreign portfolio investors (FPIs) own nothing but Adani stock. Wasn’t sold when the price rose 18x or fell 75%. Ever heard of illegal camp parking @SEBI_India?” said TMC MP Mahua Moitra.
“Bloomberg with a column talking about how some foreign portfolio investors (FPIs) own nothing but Adani stock. Wasn’t sold when the price rose 18x or fell 75%. Ever heard of illegal camp parking @SEBI_India?” said TMC MP Mahua Moitra.
“I pointed out in June 2021 how unconventional directors of foreign portfolio investors (FPI) serve for Adani. Today @andymukherjee70 at @opinion says the same thing. No conspiracy. Simple Brains. Wake up @SEBI_India,” she said in another tweet.
“I pointed out in June 2021 how unconventional directors of foreign portfolio investors (FPI) serve for Adani. Today @andymukherjee70 at @opinion says the same thing. No conspiracy. Simple Brains. Wake up @SEBI_India,” she said in another tweet.
Columnist Andy Mukherjee’s Bloomberg op-ed highlighted that obscure Cyprus- and Mauritius-based funds may be putting someone else’s money in Adani stock, short seller Hindenburg Research has claimed.
Columnist Andy Mukherjee’s Bloomberg op-ed highlighted that obscure Cyprus- and Mauritius-based funds may be putting someone else’s money in Adani stock, short seller Hindenburg Research has claimed.
“In response to a question in Parliament in July 2021, the government presented a list of foreign investors in the Adani Group. It named Margaret Sjak Shie-Sankatsing, Jan Scheelings and Collin de Wit as the people behind New Leaina. Hindenburg claims they are likely employees of “Amicorp Group, a business services firm with extensive ties to Adani’s network of offshore companies,” according to the column.
“In response to a question in Parliament in July 2021, the government presented a list of foreign investors in the Adani Group. It named Margaret Sjak Shie-Sankatsing, Jan Scheelings and Collin de Wit as the people behind New Leaina. Hindenburg claims they are likely employees of “Amicorp Group, a business services firm with extensive ties to Adani’s network of offshore companies,” according to the column.
Stock parking refers to the illegal practice of selling stock to another party with the understanding that the original owner will buy it back after a short period of time. Unlawful holding or financing of shares by a third party where the sole reason for the third party holding the shares is to disguise ownership or control while maintaining the appearance of complying with legal requirements.
Stock parking refers to the illegal practice of selling stock to another party with the understanding that the original owner will buy it back after a short period of time. Unlawful holding or financing of shares by a third party where the sole reason for the third party holding the shares is to disguise ownership or control while maintaining the appearance of complying with legal requirements.
A Reuters report on Friday indicated that SEBI is investigating Adani Group’s ties to some of the investors in the conglomerate’s aborted $2.5 billion share sale and possible violations of Indian securities laws or conflicts of interest in the process.
A Reuters report on Friday indicated that SEBI is investigating Adani Group’s ties to some of the investors in the conglomerate’s aborted $2.5 billion share sale and possible violations of Indian securities laws or conflicts of interest in the process.
(With contributions from agencies)
(With contributions from agencies)