ED finds suspicious activities by 16 entities in Adani case

The ED has investigated the links of an Indian private bank and 15 other entities, including foreign portfolio investors (FPIs), whose beneficial ownership is not yet known, in the case related to short selling of shares of Adani group companies earlier this year. Adani group entities lost nearly $150 billion in value soon after the Hindenburg report came out, which accused the Gautam Adani-led conglomerate of stock manipulation and accounting frauds.

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