Global investigative journalists collective said to be planning expose on Indian company
OCCRP), a global network of investigative journalists, backed by billionaire investor George Soros among others, are in the final stages of releasing an investigative report on a wellknown Indian corporate group, news agency PTI reported on Thursday, citing sources aware of the matter. According to these sources, the objective of the forthcoming expose is said to be alleged instances of round tripping of funds from overseas jurisdictions into listed Indian companies controlled by the above-mentioned group.
The PTI story said the identity of the corporate group was not immediately known.
In the report on Thursday evening, PTI said that Indian regulatory agencies are keeping a close eye on the potential impact of the soon to be released report on the domestic financial markets, which have faced a similar situation following a report by US-based short seller Hindenburg Research on the Adani Group in January this year. Hindenburg had accused the Adani Group of stock price manipulation of listed companies through offshore entities and undisclosed related party transactions.
The Adani Group has steadfastly denied all allegations.
The group’s stocks took a heavy beating in the aftermath of the report, prompting Indian authorities to look into the matter.
Founded in 2006, OCCRP publishes investigative news articles through partnerships with media houses. Its backers include the Open Society Foundations of George Soros, the Ford Foundation, Rockefeller Brothers Fund and Oak Foundation, among others.
