There is now evidence of Adani investing in his own companies via some Bermuda-based funds. Here’s an analysis

Hi Mr. Manek,

it is praiseworthy that you have placed all points at one place. Let me just couple of points –

1. Government has been favoring Adani group because of because of 2 reasons –
   a) Government is bulling on infra which is very positive considering India has a long way to go in infra segment.
   b) Government has a lot of history with Adani Group from Gujarat Days which can be interpreted in many ways.

So Private Equity investing in Adani is nothing wrong.
The only problem I feel is that Adani group became too greedy too fast which made them come under RADAR. Another clear indication for that was no FII was having any position in Adani group. So there is difference between Private market and public market the way they approach their investment.
The saddest part it puts a blot on complete system of corporate governance in India on global map. As you mentioned SEBI is not able to find concrete info for Bermuda based company. I feel they are not motivated or not having enough incentives for that.