The fund is called Gulf Asia Trade & Investment, the people aware of the matter said. It is owned by Dubai businessman Nasser Ali Shaban Ahli, according to checks of its website last month although the site has since been pulled down. The fund has invested in several listed Adani firms, according to the Organised Crime and Corruption Reporting Project (OCCRP) and data that the investigative journalist group has provided to Reuters.
The probe is part of the Securities and Exchange Board of India's (Sebi) investigation into the Indian conglomerate which follows a January report by shortseller Hindenburg Research that said offshore shell companies "surreptitiously" owned stock in Adani listed firms, posing governance concerns.
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