finvestigatorr.wordpress.com Open in urlscan Pro
192.0.78.13  Public Scan

Form analysis
2 forms found in the DOM

POST https://finvestigatorr.wordpress.com/wp-comments-post.php

<form action="https://finvestigatorr.wordpress.com/wp-comments-post.php" method="post" id="commentform" class="comment-form" novalidate="">
  <div id="comment-form__verbum" class="transparent"></div>
  <div class="verbum-form-meta"><input type="hidden" name="comment_post_ID" value="7" id="comment_post_ID">
    <input type="hidden" name="comment_parent" id="comment_parent" value="0">
    <input type="hidden" name="highlander_comment_nonce" id="highlander_comment_nonce" value="1ab8adb4e8">
    <input type="hidden" name="verbum_show_subscription_modal" value="">
  </div>
  <p style="display: none;"><input type="hidden" id="akismet_comment_nonce" name="akismet_comment_nonce" value="71d7009193"></p>
  <p style="display: none !important;" class="akismet-fields-container" data-prefix="ak_"><label>Δ<textarea name="ak_hp_textarea" cols="45" rows="8" maxlength="100"></textarea></label><input type="hidden" id="ak_js_1" name="ak_js"
      value="1732878045902">
    <script>
      document.getElementById("ak_js_1").setAttribute("value", (new Date()).getTime());
    </script>
  </p>
</form>

POST https://subscribe.wordpress.com

<form method="post" action="https://subscribe.wordpress.com" accept-charset="utf-8" style="display: none;">
  <div>
    <input type="email" name="email" placeholder="Enter your email address" class="actnbr-email-field" aria-label="Enter your email address">
  </div>
  <input type="hidden" name="action" value="subscribe">
  <input type="hidden" name="blog_id" value="222424950">
  <input type="hidden" name="source" value="https://finvestigatorr.wordpress.com/2023/08/16/adani-groups-illegitimate-payments-of-about-170-million-us-dollars-to-financial-advisors/">
  <input type="hidden" name="sub-type" value="actionbar-follow">
  <input type="hidden" id="_wpnonce" name="_wpnonce" value="c69cacbfee">
  <div class="actnbr-button-wrap">
    <button type="submit" value="Sign me up"> Sign me up </button>
  </div>
</form>

Text Content

ADANI GROUP’S ILLEGAL PAYMENTS OF 1,500 CRORE RUPEES TO FINANCIAL ADVISOR CAPRI
GLOBAL (MONEY MATTERS) FOR FACILITATION OF BRIBE PAYMENTS

Aug 16, 2023
Uncategorized

Sometime in year 2022, various special purpose companies of the two main listed
companies of Adani group (viz. adani green & adani transmisson) paid more than
1,500 crore rupees (170 million us dollars) for “financial consulting and
advisory services” to a company called Capri Global. The money was paid for
“financial advisory services” which the special companies were supposed to get
from Capri Global for getting them loans from many foreign and Indian banks and
NBFC. A large number of banks who have loaned money to Adani are international
banks from Singapore and Hongkong branches.

in actuality, Capri global didn’t give any financial advise and all of this was
sham transaction for money laundering of this huge amount of 1,500 crores from
the project companies to give bribes to various people. Capri Global was called
Money Matters previously and is known to facilitate such accommodation payments
with a cut. They were caught by CBI long time back doing the same things. This
company is run by Rajesh Sharma who was earlier in jail for a long time when
Money Matters was caught by CBI for bribing bank officials of public sector
banks in India.

How do we know that this was a fraud payment? The loans were guaranteed and
loaned by the banks themselves and they were paid huge amount of fees for this
loan and service. No bank interacted with Capri people at any time and they were
not even aware that Capri is acting as a go between (“dalal”) for Adani. For
whole loan approval process the banks did it themselves and never spoke to Capri
global people. In fact capri people never even visited adani offices and and did
not do even small amout of work to justify such huge payments of 1,500 crore
rupees. it is clear that Capri payment was only accommodation payment and no
work was done. This is fraud of highest order.

Now is the interesting part. As the banks had loaned large amount of money,
their approval is needed for big payments from the special companies.. The banks
also approve what kind of payments are allowed and not. This control banks keep
in such large loans. It is called escrow cash. But Adani companies didn’t take
approval from lenders and just made the large payments to Capri global. Adani
company made two mistakes. They made fraud payment for no work and did not even
take approval from the banks. The banks also kept quiet maybe because they were
paid some cut.

But the best part is that banks have many levels of checks and balance. One
french bank’s audit team caught this payment and asked why it was made without
approval. These banks are very afraid of regulators from USA and Europe levying
huge fines on them because payments like this are just bribes in another name.
Adani special companies were not able to give any justification and beat around
the bush all the time. This bank then complained to total group france also.
Total group france is 20% shareholder in many Adani companies and is also very
afraid of fines due to bribe payments. Total group has been fined a lot many
times in the past for giving such bribes in african nations where it does oil
drilling. It is very careful because of this.

None of the indian banks or NBFCs like PFC and REC could catch this kind of
illegal payments as they are also severely compromised. Foreign banks also could
not catch it on their own because their officials are also well cared by Adani
people under the guise of site visit and official dinners.

When Total france came to know of this fraud, they also inquired from top Adani
official Mr. Robby Singh why they were not asked before making these payments.
Total is also on board of many Adani companies and also part of audit committee
and other committees. Adani people could not give satisfactory answers and kept
dilly dalling all the while trying to justify that Capri Global really gave
financial advisory to the special companies. Mr. Robby Singh said to Total that
he himself was not aware of this payment as it was made by CFO of special
purpose companies with direct approval of Mr Adani.

Advertisement

Privacy Settings

Only when total france complained severely and asked for firing all people
responsible that Adani group got into action. Total group was very afraid of
this payment classified as payment to agents which is treated as bribes by all
regulators. To calm the nerves of Total france, Mr. Robby made the CFOs (Mr.
Shah and Mr. Lingam) resign and accounts head also was fired. Total group gave
severe warning to Adani that this kind of payment should not be repeated. This
was one main reason of total not making more investment with Adanin for the
green hydrogen plant.

The money given to Capri has not been returned by Capri Global as it was used
for bribing various officials in banks and PSUs for giving more loans to repay
old Adani loans.

This is fraud of the highest order and money siphoned out from project is used
to give more bribes and maintain high loans of adani group. This is also crime
as foreign companies and banks are overlooking such accomodation payments and
supporting bribe payments.

F




SHARE THIS:

 * Twitter
 * Facebook
 * 

Like Loading…



LEAVE A COMMENT CANCEL REPLY

Δ

Designed with WordPress


 * Comment
 * Reblog
 * Subscribe Subscribed
    * Finvestigator
      
      Sign me up
    * Already have a WordPress.com account? Log in now.

 * Privacy
 *  * Finvestigator
    * Edit Site
    * Subscribe Subscribed
    * Sign up
    * Log in
    * Copy shortlink
    * Report this content
    * View post in Reader
    * Manage subscriptions
    * Collapse this bar

%d
Design a site like this with WordPress.com
Get started