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Monday, May 06, 2024  
27 Shawwal 1445  

Global network of journalists plans to expose Indian firms: report

Revelations might belong to international funds of corporate houses in the stocks, signalled report.
Billionaire investor George Soros speaks to the audience at the Schumpeter Award in Vienna, Austria June 21, 2019. Reuters
Billionaire investor George Soros speaks to the audience at the Schumpeter Award in Vienna, Austria June 21, 2019. Reuters

The Organised Crime and Corruption Reporting (OCCRP), an organisation funded by George Soros and the Rockstars Brothers Fund, is planning to ‘expose’ certain corporate houses in India, Press Trust of India reported.

The development came after seven months when the US-based short seller, Hindenberg Research, disclosed details of Adani’s group stock market dealings.

The OCCRP is a global network of investigative journalists that “exposes crime and corruption so the public can hold power to account,” says the description on its website. The group may be going to reveal a report or a series of articles on certain corporate houses in India, according to the PTI report.

The Indian news agency reported that the revelations might belong to international funds in the stocks of corporate houses which have not yet been identified but the Indian agencies are keeping a close eye on the capital market.

The Hindenberg, in January, accused the Adani group of manipulation and accounting fraud. The stock of the Adani group had tumbled and Reliance Industries Chairman and Managing Director Mukesh Ambani replaced Gautam Adani from the position of richest Indian in the world.

Allegations have sparked a major controversy.

Soros, who backs the OCCRP, said Indian Prime Minister Narendra Modi would “have to answer questions” pertaining to the Hindenberg disclosures.

The Bharatiya Janata Party had criticised Soros’s remarks and had termed the statement an “attack” on PM Modi and the Indian democratic system.

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Gautam Adani

Adani group

occrp

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