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Senior lawyer Mahesh Jethmalani alleges a Chinese connection in the Hindenburg report that targeted Adani Group.
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Jethmalani points to Mark Kingdon’s wife, Anla Cheng, a Chinese-American with ties to Chinese interests, as the “smoking gun”.
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The lawyer questions whether Indian individuals and entities involved with Hindenburg knew about the short-selling plan and the Chinese link.
Mahesh Jethmalani, a senior lawyer, has made a startling allegation that a Chinese connection was behind the Hindenburg report that led to a sharp decline in Adani Group shares. Jethmalani points to Mark Kingdon, the head of Kingdon Capital Management LLC, and his wife Anla Cheng, a Chinese-American with significant shares in Kingdon Master Fund, as the key players in the saga.
Jethmalani alleges that Cheng’s ties to Chinese interests and her role as a lobbyist for Chinese interests in the US are the “smoking gun” that reveals the true intentions behind the Hindenburg report. He suggests that the Adani Group’s blocking of Chinese interests worldwide, including outbidding Chinese firms for Israel’s Haifa Port and coal projects near Sri Lanka’s Jaffna, may have driven the Chinese connection to target the group.
The Securities and Exchange Board of India (Sebi) has already accused Hindenburg Research LLC of misrepresentations and selective disclosures to cause panic in Adani share prices. Hindenburg has denied any wrongdoing, but Jethmalani’s allegations raise further questions about the motivations behind the report and the involvement of Indian individuals and entities in the short-selling plan.
#JairamRamesh is a consummate liar. The #INC attack on the #Adani group was not an attack on “crony capitalism” but a campaign to undermine an Indian multinational that had successfully on merit thwarted Chinas global outreach by winning contracts against Chinese bids for coal… https://t.co/isxQKwW0JU
— Mahesh Jethmalani (@JethmalaniM) January 3, 2024
