2 ms·
This is not true. In the US, something of this magnitude, even if it was entirely a question of financial irregularities would trigger multiple investigations b
by rhaway84773 4y ago
This is not true. In the US, something of this magnitude, even if it was entirely a question of financial irregularities would trigger multiple investigations by multiple entities. Congress rarely gets involved, but the Justice department, which is the govt’s prosecutorial arm, often does (Congress getting involved would be the equivalent of a Parliamentary investigation in India…the Justice Dept investigation would be similar to the CBI, because I don’t believe India has a direct equivalent to the Justice dept).
For example, Hindenburg’s claims against Nikola motors, which was a much more straightforward case led to complete investigations by the SEC and the Justice Department. There was also an investigation by the Southern District of NY, which is the primary financial irregularities investigator in the US system.
The SEBI investigation was driven by a court request. In fact, when the courts were deliberating what steps they should require (since the govt wasn’t acting), the govt’s position was that the court should actually be requiring an investigation of Hindenburg.
But Hindenburg’s report wasn’t a simple allegation of financial fraud, but also deep political connections with the Modi govt. Allegations of that nature would have triggered not just a separate Justice dept investigation, but also likely led to separate House and Senate investigations as well.
What India is doing is clearly a joke, and the reason it’s a joke is because nothing Hindenburg has alleged was not known to pretty much everyone in India. If you tried to do any business with the Indian govt their lackeys would openly question your choice to partner with Infosys or Tata, and ask why didn’t you approach Adani instead.
It’s a blatant scam, and Adani and Modi are in an obvious and blatant unholy and corrupt alliance with each other.
If you live in India and claim that’s not true I’m sorry for your incredible naïveté. Go talk to pretty much anyone who does business with the govt in the country, or even trades regularly on the markets.