{"id":34729,"date":"2023-09-18T11:10:31","date_gmt":"2023-09-18T11:10:31","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/money-laundering-laws-firm-linked-to-adani-investors-lost-licences-in-mauritius"},"modified":"2023-09-18T11:56:42","modified_gmt":"2023-09-18T11:56:42","slug":"money-laundering-laws-firm-linked-to-adani-investors-lost-licences-in-mauritius","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/money-laundering-laws-firm-linked-to-adani-investors-lost-licences-in-mauritius","title":{"rendered":"Money-laundering laws: Firm linked to Adani investors lost licences in Mauritius"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>In May 2022, a full eight months before the Hindenburg report flagged alleged irregularities in the Adani Group, Mauritian financial regulator Financial Services Commission (FSC) revoked the business and investment licences of Emerging India Fund Management Ltd (EIFM), the controlling shareholder of two Mauritius-based funds that invested in listed Adani companies and are now under probe.<\/p>\n

The FSC Enforcement Committee\u2019s decision alleged breach by EIFM of several provisions of laws meant to curb money laundering and ensure corporate governance.<\/p>\n

In its licence revocation notice on May 12, 2022, a copy of which is available on the regulator\u2019s website, the FSC held that EIFM \u201cacted in breach\u201d of various sections of the Financial Services Act, the Securities Act, the Financial Intelligence and Anti-Money Laundering Regulations (2003 and 2018) and the Code on the Prevention of Money Laundering and Terrorist Financing.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. In May 2022, a full eight months before the Hindenburg report flagged alleged irregularities in the Adani Group, Mauritian financial regulator Financial Services Commission (FSC) revoked the business and investment licences of Emerging India Fund Management Ltd (EIFM), the controlling shareholder of two Mauritius-based funds that invested in listed Adani companies and […]<\/p>\n","protected":false},"author":84,"featured_media":34728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[2159,233,245,241],"class_list":["post-34729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-adani","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nMoney-laundering laws: Firm linked to Adani investors lost licences in Mauritius - Mauritius<\/title>\n<meta name=\"description\" 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