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Institutional investors with large holdings in the Indian conglomerate have received inquiries from the Attorney’s Office in Brooklyn and SEC asking for information on what Adani group told those investors, the report added.
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The production cuts follow a full-steam-ahead production schedule till May that the companies were pursuing in the hope that demand will revive with the lifting of spirits against decelerating inflation and overall optimistic macroeconomic scenario
Before transferring the loan to JC Flowers, YES Bank had sold shares of these four companies in 2019 and the value given by the company had been given 12 months prior to this share sale
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