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India

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

Forbes

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

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

Will Adani go down like the Hindenburg?: what the explosive accusations mean for the company

ABC TV The Business

Tim Buckley breaks down the allegations against Adani Group in the report by research firm Hindenburg, and the implications for the company, which is in the process of a major capital raising. 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

Forbes

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
CEF in the media  |  Jan 26, 2023

Adani’s Queensland coalmine cited in US investor’s claims of ‘biggest con in corporate history’

The Guardian

Tim Buckley said financial restructuring at Adani leading up to the pandemic had made it less susceptible to a shock. While the Hindenburg allegations of fraud and other corporate misdeeds “will hamper their access to Wall Street, categorically…Adani is not, in my view, a house of cards unless the Hindenburg research results in a serious, credible, full response from the SEC”. Read more
CEF in the media  |  Dec 15, 2022

OP ED | India needs a doubling of installs to deliver on PM Modi’s 450 GW by 2030 ambiti ..

Economic Times/Energy World

In this op ed, Tim Buckley notes that while new renewable energy proposals have lifted in recent months, a lot more ambition is required to reach PM Modi’s target of 450GW of installs by 2030. Read more
CEF in the media  |  Dec 9, 2022

How political will often favors a coal billionaire and his dirty fossil fuel

Washington Post

Tim Buckley on how Indian energy magnate Gautam Adani is selling power from his massive Godda coal fired power plant in eastern India to Bangladesh at a premium, in a monumental price gouge. Read more
CEF in the media  |  Dec 3, 2022

Indian coal magnate Gautam Adani steps up green investments

AP

Though his wealth was built from coal mining and other heavy industries, early on Adani recognized the promise of renewable energy, says Tim Buckley, who has been tracking investments in renewables in Asia for decades. Read more
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