Elara Securities

Website

India

Elara Securities is a financial services firm offering investment and advisory services, primarily operating in India.

CCI Score

-40.54

0.11% May 31

Latest Event

UK Regulatory Probe on Elara Capital’s Ties with Adani

The UK Financial Conduct Authority is investigating potential links between Elara Capital and the Adani Group, as reports indicate that the firm’s funds are nearly exclusively invested in Adani stock. This raises concerns about economic collaboration that may indirectly empower entities with ethically questionable practices and ties to authoritarian economic frameworks.

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TOADIE

Elara Securities is currently rated as a Toadie.

-30 to -44 CCI Score

Companies scoring in this range actively seek to please authoritarian regimes. They offer proactive support and assistance in exchange for preferential treatment, compromising ethical standards for business gains and political favor.

Latest Events

FEB

06

2023

UK Regulatory Probe on Elara Capital’s Ties with Adani
-31.73

The UK Financial Conduct Authority is investigating potential links between Elara Capital and the Adani Group, as reports indicate that the firm’s funds are nearly exclusively invested in Adani stock. This raises concerns about economic collaboration that may indirectly empower entities with ethically questionable practices and ties to authoritarian economic frameworks.
-40

Economic Collaboration

March 19

Elara Capital’s investment strategy, which reportedly holds nearly exclusively Adani Group stock, suggests a concentrated economic collaboration with a conglomerate currently under intense scrutiny for alleged fraud and potential links to ethically problematic practices. The UK regulator's probe highlights concerns that such exclusive investment policies can facilitate financial alliances with entities that may bolster authoritarian economic influences.

Adani’s UK links probed as London-based Elara Capital faces scrutiny
FEB

01

2023

Board Resignation Amid Adani Allegations and Regulatory Concerns
-55.44

Jo Johnson resigned from the board of Elara Capital following allegations that the firm used Mauritius‐based funds to conceal the true ownership of Adani shares, raising concerns about potential regulatory evasion and opaque economic collaborations.
-70

Economic and Structural Influence

March 19

Elara Securities, through its advisory arm Elara Capital, is implicated in controversy over its fund structures that allegedly obscure the beneficial ownership of Adani shares. This opaque financial maneuvering raises serious questions regarding regulatory adherence and potential economic collaboration with controversial entities, undermining market transparency and enabling possible regulatory capture. While the appointment of Lord Jo Johnson initially signaled a commitment to improving governance, his swift resignation underlines escalating concerns regarding internal practices and oversight.

Jo Johnson, the investment bank and the Adani allegations
JAN

24

2023

Elara Securities CEO’s Involvement with Fugitive Accountant Linked to Stock Manipulation
-60.00

Leaked emails reveal that the CEO of Elara Securities was involved in deals with Dharmesh Doshi, a fugitive known for his role in stock manipulation. This association raises serious concerns about the firm's ethical business practices and its role in complex, manipulative financial schemes that undermine market integrity.
JUL

28

2021

Murky Fund Dealings and Opaque Investments Raise Questions for Elara Securities
-14.98

An investigative report by Al Jazeera highlights the murky track record of several Mauritius-based funds, including the Elara India Opportunities Fund linked to Elara Capital Ltd, which is associated with Elara Securities. The report outlines investments in companies with histories of bankruptcy, money laundering probes, and regulatory scrutiny, raising concerns over transparency and ethical business practices potentially affecting public and political spheres as well as economic influence in strategic sectors.
-10

Public and Political Behavior

March 19

While there is no direct evidence of Elara Securities engaging in overt political lobbying or making political contributions, the opaque funding mechanisms and questions raised by lawmakers about the sources of investment funds suggest potential indirect political influence. The lack of transparency in financial dealings raises concerns about the company’s role in political environments that can enable authoritarian practices.

The murky dealings of four funds in Indian tycoon Adani’s empire
-30

Business Practices and Ethical Responsibility

March 19

The report reveals a pattern of unethical business practices including round-tripping, money laundering probes, and opaque ownership structures. These issues highlight a lack of corporate transparency and ethical responsibility in managing funds and investments. Such practices undermine public trust and can indirectly facilitate reactions against regulatory measures, contributing negatively to ethical business norms.

The murky dealings of four funds in Indian tycoon Adani’s empire
-30

Economic and Structural Influence

March 19

The concentrated investments in strategic sectors such as ports, airports, and power plants, managed through complex and opaque financial structures, point to a concerning level of economic influence. Such practices risk facilitating regulatory capture and economic collaborations that can indirectly support authoritarian agendas, compromising market fairness and democratic oversight.

The murky dealings of four funds in Indian tycoon Adani’s empire