China’s hand in Hindenburg case? Senior lawyer Mahesh Jethmalani raised questions

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After research we found that Kotak was appointed to do the trading so he set up an offshore account and took money from the master fund of this couple of around 40 million. This amount was used to take big positions through Kotak via Mauritius route.

India’s most senior lawyer and BJP leader Mahesh Jethmalani has alleged that a US-based businessman with Chinese links had fabricated a report by Hindenburg Research, which led to a significant drop in the shares of Adani Group companies in January-February 2023. Rajya Sabha MP and senior lawyer Mahesh Jethmalani alleged a ‘China angle’ in the Hindenburg report on Adani Group. He said that we have only heard about Hindenburg regarding short selling of Adani shares, they had prepared a research report on Adani Group at the behest of a fund promoted by a couple named Mark Kingdon and Anla Cheng. After research we found that Kotak was appointed to do the trading, so he set up an offshore account and took money from the master fund of this couple of about 40 million. This amount was used to take large positions through the Mauritius route through Kotak.

Adani agrees with the idea that once the negative reports come out they will sell and walk out. It was found that this woman who was being investigated by the US Congress was a very skilled Chinese spy. More investigation needs to be done about this. The motive was not only to target Adani but also to help the Chinese state… This establishes that all this was done to threaten India’s strategic interests. ChinaProject was shut down after some US senators called for an investigation into its subversive activities, including links with the Chinese Communist Party. The latter clearly has the potential to compete with the Adani Group.

Kingdon also hired Kotak Mahindra International Limited (KMIL) to set up an offshore fund and an offshore account to trade in Adani shares. Jethmalani alleged that Kotak created Kotak India Opportunity Fund (KIOF) to trade in Adani shares.

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