Although the Adani Group in its response to Hindenburg's allegations claimed that Vinod Adani, the business tycoon's elder brother, has no official role and is not a related party, investigations reveal something else.
According to 'The Morning Context', the regulator is investigating the relationship between two Mauritius-based funds The Great International Tusker Fund and Ayushmat Ltd which participated in Adani Enterprises’ 2.4 billion USD, follow-on public offer.