I know nothing about finance. Please can sb explain it, does it make sense? Adani topic.
What I understand is that Adani group created shell companies to buy Adani stock and pump up the price with money borrowed from banks using shares as collaterals?

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Ok I think what you're asking for is an explanation of the Adani group scandal, right? It's exactly like what you've described...so I'm not really sure what the question is? Like do you want to do know how he did it? Pretty obvious why he did it lol

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https://youtu.be/KyeFTgjfb30

The only article published claiming the Company actually did this was the Hindenburgh article.

However, it is important to point out that Hindenburgh has a short position in the Adani companies, which would have been (my guess) margin called if Adanis transaction that was cancelled on Wednesday went through.

I definitely could see it being true. Did a ton of digging on the Adani companies last week and, while there’s no proven corruption, it seems like every single situation they’ve had to get where they are could have easily been influenced with some collusion.

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Oh and to answer your question, yes Hindenburgh group was alleging many things, one of which being Adani created shell companies to buy company stock, therefore pumping it (kind of similar general principal to Enron, except they used shells as ways to hide debt instead of equity).

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