Delhi: The storm created by the Hindenburg Research report is unstoppable. Adani Group has suffered a loss of Rs 11 lakh crore in the storm created by the Hindenburg Report. The American Research Institute Hindenburg has made serious accusations against the Adani Group in its report. Hindenburg has now accused the Adani group of having ties to a discredited Chinese company. Hindenburg has also said that Adani is not giving a clear response to the allegations. Now that the Chinese connection has come to light in the Hindenburg-Adani case, questions have been raised by the opposition. Congressional leaders have raised questions about Chinese businessman Chang Chung Ling.
What is Adani’s accusation and the Chinese connection?
Hindenburg named Chinese businessman Chang Chung Ling in his report. Hindenburg says that there is a connection between Chang Chung Ling and Gautam Adani’s brother, Vinod Adani. Gudami International, a company of Chinese businessman Chang Chung Ling, was previously linked to the AugustaWestland scam. Hindenburg has said that this company is related to the Adani Group. Chang Chung Ling’s son was prime contractor on the Adani Group PMC project. Not only this, Hindenburg has also claimed in the report that Gudami Int. is a shareholder of Adani Global.
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Who is Chang Chung Ling?
Adani Group suffered a loss of 11 lakh crores to the research firm, in which attempts were made to link Adani’s name to a Chinese businessman. Chang Chung Ling’s company is Goodami International. According to the company’s annual report in 2005, the company had 1,999,999 shares. In 2002, Goodami International was a related party of Adani Enterprises. Goodami International rose to fame in 2008 when it was allegedly linked to the AgustaWestland VVIP helicopter scam. According to a report, Goodami had invested around $4.5 billion in various funds. He had a stake in the Adani Group. Not only this, it has been claimed in the Hindenburg report that he also worked as a director in the Adani group firms.
what is relationship
According to the 2014 DRI report, Chang Chung Ling’s name was linked to Adani Electrogen Infra Holding Pvt. Chang Chung Ling worked as a director at this company. According to Taiwanese media reports, Chang Chung Ling is one of the major shareholders of the Adani Group. Also, Chang Chung Ling was a director of Gromore Trade and Investment Company, which merged with Adani Group in 2011. But Adani Group has denied all these allegations.