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India & Adani

CEF in the media  |  Feb 3, 2023

Adani stock crash after explosive Hindenburg report

ABC TV News Channel

Tim Buckley on ABC TV News Breakfast on the crisis gripping Adani after accusations of fraud by research firm Hindenburg, noting the risk of contagion in the financial system in India is very serious. With Wall St now closed to the Adani Group, there will also need to be a massive refinancing effort of half of their borrowings. Read more
CEF in the media  |  Feb 3, 2023

Adani empire loses more than $100 bn after fraud claims

Economic Times/Energy World

An AFP story quotes Tim Buckley noting that the scandal engulfing Adani raises the question of whether the company may be forced to sell off its crown jewels to strategic investors. Syndicated in India’s preeminent economics and finance news outlet, Economic Times, in Barron’s and elsewhere. Read more
CEF in the media  |  Feb 3, 2023

Fears Adani’s losses will impact India’s economy

ABC Radio National AM

Tim Buckley notes the Hindenburg accusations against Adani are staggering and unprecedented, and regulators in India have turned a blind eye and failed to evaluate the longstanding allegations of fraud, observing that the crisis may have broader implications for the Indian economy. Read more
CEF in the media  |  Feb 2, 2023

Adani Enterprises Calls Off Rs 20,000 Crore FPO, To Return Investors’ Money

The Wire

As the troubled Adani Group, reeling after allegations of systemic fraud, calls off its share offer, Tim Buckley notes that “The only way Adani can actually resolve this issue is to illustrate who did buy all of the shares. It would be my speculation that there were insiders.” Read more
CEF in the media  |  Feb 2, 2023

Adani Group abandons share offer as crisis triggered by fraud claims escalates

The Guardian

Tim Buckley comments that Adani’s avenues to raise money are severely curtailed given the serious allegations and subsequent share selldown. “Capital markets in Europe and the US have effectively closed to Adani. It could sell a major asset to an ally and try and dress it up so it doesn’t look like a fire sale.” Read more
CEF in the media  |  Feb 1, 2023

Gautam Adani’s Middle Eastern Allies Help Him Shrug Off Fraud Allegations, Wealth Plunge


Friends and boosters from the Middle East are rushing to the side of the beleaguered Adani as it completes its share offering. Tim Buckley notes that “anyone who supported this equity raising has done it to support the Adani Group.” Read more
CEF in the media  |  Feb 1, 2023

This Mogul Lost $36 Billion in Days. Who Is He, and What Happened?

New York Times

Tim Buckley is interviewed by NYT on the Adani revelations and the company’s response. He observes that the fight could have geopolitical implications, given the United States’ courting of India as a counterweight to China, as part of the Quad partnership that also includes Japan and Australia. Read more
CEF in the media  |  Feb 1, 2023

Who is Gautam Adani? India’s richest man is bleeding money after getting in a war of words with a major short-seller

Fortune magazine

Tim Buckley is quoted in this story from Fortune about the Hindenburg report alleging corporate fraud on a massive scale at the Adani Group Read more
CEF in the media  |  Feb 1, 2023

Is Adani the biggest corporate con in history?

The Project

Tim Buckley is interviewed in this feature on allegations of systematic corporate wrongdoing at the Adani Group noting that the previously teflon coated Adani is now facing heavy scrutiny by US regulators, as the company bleeds billions, also commenting on implications for its coal operation in Australia. Read more
CEF in the media  |  Jan 31, 2023

Adani crisis deepens as Hindenburg report exposes alleged fraud

ABC TV The Business

Tim Buckley comments on the Adani story on ABC TV’s flagship The Business as Adani Group shares plunge, noting Hindenburg’s allegations appear credible and Adani doing an “independent” audit is not sufficient – India’s financial regulators must step in to investigate. Read more
CEF in the media  |  Jan 26, 2023

Asia’s richest man Adani sees wealth plummet over fraud accusations

ABC Radio National Drive

Tim Buckley interviewed on RN Drive re Hindenburg’s fraud accusations against Adani Group, which centre on stock manipulation, money laundering, failure to declare conflicts of interests and accounting irregularities, go back some two decades, and remain unresolved. Will this amount to more water under the bridge for Gautam Adani? Notably, this is the first time the allegations have been raised in the US under the purview of the SEC. Read more
CEF in the media  |  Jan 26, 2023

Behind The Adani Group’s ‘House Of Cards’: Juicy Fees For Wall Street Banks


Tim Buckley comments for Forbes on research firm Hindenburg’s explosive allegations of fraud by Adani Group, noting that Wall Street only began to warm up to Adani when he sought financing for Adani Green Energy, the conglomerate’s renewable energy subsidiary. However, the money raised by Adani Green or Adani Ports may “just get transferred to Adani Power and Adani Enterprises, and then goes towards building more coal fired power plants or more coal mines.” Read more

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