Chang Chung-Ling

Swiss court ruling an indictment of SEBI, Indian courts in Adani affair

A Swiss Federal Criminal Court ruling is seen as an indictment of SEBI and Indian courts in the Adani affair. The verdict is based on an appeal to unfreeze an entity’s bank accounts, which indirectly weighed on allegations that the Adani group’s promoters had sold/bought more shares than legally permissible, to inflate share prices. The alleged proxy is Sanilion, linked to Chang Chung-Ling. The court documents reference money laundering and embezzlement suspicions.

Adani group has clear links to Howe, misled investors and Deloitte

Ravi Nair / October 30, 2023

But with Howe identified, the denial of any relationship between it and the Adani group flew in the face of publicly available information, and was possibly a key reason for Deloitte resigning as APSEZ’s auditor a few months later. Howe Engineering Projects’ parent firms are described as Adani group entities on an affiliate’s website, and there are multiple trails of evidence linking Howe to the conglomerate owned by Gautam Adani’s brother Vinod Adani and associate Chang Chien-Ting.

Swiss court ruling an indictment of SEBI, Indian courts in Adani affair

Adani group has clear links to Howe, misled investors and Deloitte

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