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Four funds invested in Adani firms have history of bets gone wrong: Report

The Mauritius-based funds invested in firms that ended up defaulting or were investigated for wrongdoing.

Adani
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Some lawmakers are now seeking an investigation into whether the Mauritius funds are being used as a shell for Adani’s own money

Anurag Kotoky | Bloomberg
Four Mauritius-based funds that have attracted attention for parking almost all their money in companies controlled by Indian billionaire Gautam Adani have a history of investing in firms which ended up defaulting or were investigated for wrongdoing.
Before they put about 90% of their $6.9 billion under management in the Adani empire, the funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- held significant stakes in two companies whose founders fled India and have since been probed for money laundering, another that went bankrupt, and a fourth that was liquidated after sparring with the

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First Published: Jul 28 2021 | 8:02 AM IST

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