Developing countries struggle with money leaving via mispriced trade invoices. In India, these alleged illicit flows come back to threaten the integrity of the stock market.
Meanwhile, Standard Chartered has stopped accepting Adani Group bonds as collateral for giving loans to their private banking clients, after Credit Suisse and Citigroup.
We re talking about Elara Capital (India) Private Limited, a subsidiary of London-based investment firm Elara Capital, and Monarch Networth Capital, an Indian brokerage firm both companies have been named as book runners or underwriters, as per the red herring prospectus filed with the exchanges by Adani Enterprises. aaa