OCCRP report against Adani group falls flat as Mauritius fund manager denies links

George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP) report framing Adani group on basis of funneling out of funds via two Mauritus based emerging economy funds seems to have fallen flat. The company alleged by the OCCRP report for having channelled funds into the company and resulting in escalation of valuation has denied the reports claiming that neither of the funds named by the report have anything to do with the Adani group.

Amid a series of speculation around Adani Group dealings, 360 ONE WAM, via an exchange filing said, "360 ONE Asset Management (Mauritius) Limited is the investment manager for Emerging India Focus Fund and EM Resurgent Fund; both of which are fully compliant broad-based funds registered with Financial Services Commission, Mauritius. In neither of these two funds, the Adani group or any of the individuals mentioned in the article, are investors. These funds as on date have zero investments in any of the shares of the Adani Group."

In the past among many other portfolio investments; the funds have had investments in shares of Adani Group companies; all of which were sold in 2018, it added.

The Adani Group had earlier in the day denied the OCCRP and the associated media reports claiming them as "suspicious, mischievous and malicious."