The company, a key part of India’s Make in India and Atmanirbhar Bharat defence initiatives, has fully cooperated with government agencies and clarified all queries raised during the process.

According to government sources, the Directorate of Revenue Intelligence (DRI) initiated a routine examination of imported parts used in missile manufacturing earlier this year.

The exercise, officials say, is part of a broader national effort to ensure fair trade practices and compliance with evolving customs regulations across India’s expanding defence industry.

In a statement, an Adani Group spokesperson emphasized that the company has provided all necessary clarifications supported by documentation, stating: “The issue stands closed from our end.”

This reflects the company’s proactive and transparent approach in aligning with India’s regulatory frameworks while supporting defence modernization and industrial growth.

Adani Defence Systems and Technologies, which manufactures missiles, drones, and small arms for Indian security forces, has been an active contributor to domestic defence capability development.

The company’s collaboration with India’s armed forces and partnerships with global technology providers have positioned it as a key player in advancing aerospace innovation and indigenous production.

Officials familiar with the matter highlighted that such reviews are not uncommon, particularly given the government’s increased focus on ensuring precision and compliance in the defence import process.

These checks are part of a broader drive to maintain the credibility of India’s defence sector, which continues to expand rapidly amid global recognition of India as a rising defence manufacturing hub.

Industry observers note that the government’s ongoing vigilance in defence trade reflects New Delhi’s policy of balancing national security with economic integrity.

By reinforcing transparent practices, India aims to build a globally trusted and self-sustaining defence ecosystem that encourages innovation, collaboration, and long-term investment.

Adani Defence’s role in supplying short-range missile systems and non-explosive missile components has helped strengthen India’s indigenous production capabilities.

The company also collaborates with international partners from Russia, Israel, and Canada, facilitating the transfer of advanced defence technologies while adhering to national policy frameworks.

While the investigation focused on classification details of certain imported materials, government sources have clarified that the matter relates to technical interpretation of import rules, not operational conduct or integrity issues.

Experts note that Adani’s engagement and responsiveness demonstrate its commitment to full compliance and cooperation.

The Indian government’s recent rule revision, which allows a wider range of missile components to be imported without tariffs, is expected to streamline future defence production and enhance India’s strategic readiness.

Industry insiders believe this policy shift will boost local manufacturing, lower costs, and attract further private-sector participation.

In recent years, Adani Group’s defence unit has aligned closely with Prime Minister Narendra Modi’s vision of turning India into a global defence export powerhouse.

The company’s drone technologies and surveillance systems have been successfully deployed by the Indian military, showcasing India’s progress toward technological self-sufficiency.

With India continuing to expand its defence manufacturing base, such regulatory measures represent an essential step in upholding transparency, boosting investor confidence, and ensuring that all private participants operate within a clearly defined and fair framework.

The developments surrounding Adani Defence highlight India’s institutional maturity, where strong oversight coexists with robust industrial growth.

As the government and the private sector work hand in hand, India’s vision of becoming a trusted global defence manufacturing partner is steadily becoming a reality.

Mossad’s internal communications described Gandhi as a “bitter dynast” allegedly involved in “coordinated efforts” to damage Adani and Indian Prime Minister Narendra Modi.

In an explosive revelation with far-reaching geopolitical implications, sources have told Sputnik India that Israeli Prime Minister Benjamin Netanyahu personally ordered the country’s spy agency, Mossad, to counter an alleged international campaign aimed at tarnishing the reputation of Indian billionaire Gautam Adani.

This unprecedented operation, codenamed Operation Zeppelin, reportedly included hacking into the personal servers of Indian political strategist and Indian Overseas Congress (IOC) head Sam Pitroda.

According to highly placed sources, Mossad’s intervention was triggered days after the now-infamous Hindenburg Research report released on January 24, 2023, which accused Adani of orchestrating “the largest con in corporate history.” The bombshell wiped off approximately $150 billion from Adani Group’s valuation and led to one of India’s most severe stock market crashes.

Haifa Deal and Israel’s Strategic Concerns

The timing of the Hindenburg report raised alarms in Tel Aviv, occurring just days before Adani Ports and Special Economic Zone (APSEZ) closed a landmark $1.2 billion deal to acquire Haifa Port—Israel’s largest and most strategic shipping hub. Sources told Sputnik India that Netanyahu, present during the finalization of the Haifa deal, raised the issue directly with Adani in a high-level closed-door meeting.

“This report… it is a serious threat to your business, isn’t it?” Netanyahu reportedly asked Adani, who was alone representing his group at the time. Present alongside Netanyahu were key aides, including Eshel Armoni, former Mossad operative and then-chairman of Haifa Port.

Adani’s calm rebuttal—“Not at all. It’s all lies.”—did little to ease Israeli concerns.

Netanyahu, citing the strategic nature of the India-Israel relationship, is believed to have told Adani, “Even if you see no threat, we have to be concerned. If it weakens you, it could sabotage not just this port deal but everything we have worked to build with India.”

According to sources, he described the Hindenburg charges as an “indirect attack” on Israel and assured Adani: “Israel believes in protecting its friends.”

Mossad Launches Operation Zeppelin

Within days, Mossad launched Operation Zeppelin, activating its elite Tzomet (Human Intelligence) and Keshet (Cyber Operations) units. The operation aimed to uncover what Israeli intelligence perceived as a coordinated global effort to derail the Haifa deal and undermine India’s standing.

Targets reportedly included Hindenburg Research’s New York headquarters and its founder Nathan Anderson, who were put under direct surveillance. The operation expanded to monitor hedge funds, activist lawyers, journalists, and political figures allegedly linked to the U.S. Deep State and billionaire George Soros.

One of the most startling aspects of the operation was the cyber intrusion into the Illinois-based residence of Sam Pitroda. Sources claimed that Mossad successfully accessed encrypted chatrooms and backchannel communications allegedly linking senior Indian opposition figures, including Congress MP Rahul Gandhi, to Anderson’s team.

Citing these findings, sources said Mossad’s internal communications described Gandhi as a “bitter dynast” allegedly involved in “coordinated efforts” to damage Adani and Indian Prime Minister Narendra Modi.

Global Surveillance and Western Media

Mossad’s operations reportedly spanned multiple geographies—ranging from the U.S. and Canada to Europe and Australia. One decrypted email from Anderson, dated September 2023, allegedly confirmed a broader plan: “Nate’s report was just the beginning. More’s coming.”

By January 2024, Adani was privately briefed on the Zeppelin findings by Israeli intelligence operatives in Switzerland. The resulting dossier—spanning 353 pages—accused Western media outlets, USAID, and the Organized Crime and Corruption Reporting Project (OCCRP) of amplifying anti-Adani narratives.

According to sources, USAID played a “central role” in disseminating disinformation through media channels.

In November 2024, intermediaries linked to Mossad reportedly leaked segments of the dossier to Reuters, Bloomberg, and The Guardian. Only French investigative outlet Mediapart published a report. “Most buried the story,” the sources noted.

Legal Blowback and Political Fallout

The dossier’s release coincided with legal actions against Adani by U.S. agencies, reportedly influenced by Biden administration officials. However, these cases collapsed under scrutiny, and sources say they led to the resignation of U.S. Attorney for the Eastern District of New York, Breon Peace.

In December 2024, Adani’s legal team—led by powerhouse firm Quinn Emanuel—sent a seven-page legal threat to Hindenburg Research. A month later, Nathan Anderson allegedly agreed to dissolve Hindenburg in exchange for immunity, which was revoked after Donald Trump assumed office in January 2025.

Congress Responds

India’s main opposition party, Congress, has categorically denied any links to Hindenburg or foreign entities. In a statement, it called the allegations a diversionary tactic to shift attention away from the serious issues raised by the Hindenburg report.

“This is nothing but a smokescreen to protect the ruling party’s corporate allies,” a Congress spokesperson told local media.

If confirmed, the revelations about Operation Zeppelin mark an extraordinary case of transnational intelligence operations being deployed in the defense of private economic interests. It underscores the evolving nexus between geopolitics, corporate interests, and cyber-espionage.

As of now, neither the Israeli Prime Minister’s Office nor Mossad has commented on the allegations. Gautam Adani’s office has also declined to respond to queries from Sputnik India.

This story is developing.

According to officials, the searches were related to possible violations of the Foreign Exchange Management Act (FEMA). The agency targeted NGOs and firms funded by OSF and SEDF, as well as Aspada Investments Private Limited, a holding company of SEDF. Authorities stated that Aspada acts as an investment advisor and fund manager for SEDF in India and is a wholly owned subsidiary of a Mauritius-based entity.

Officials revealed that the agency traced a money trail of INR25 crore from Soros-linked companies to several Indian NGOs. Additionally, foreign direct investment (FDI) amounting to INR300 crore, funneled through OSF’s subsidiaries, is under scrutiny. It is believed that SEDF has funded over a dozen companies in India with investments totaling INR300 crore.

ED’s Investigation into Foreign Funding

A senior officer, speaking anonymously, confirmed that ED recently launched a FEMA probe against Soros and his companies. “Our teams carried out raids at eight locations in Bengaluru to investigate contraventions in FDI rules by SEDF and OSF and the subsequent utilization of those funds,” the officer said.

Preliminary investigations indicate that OSF was placed under the Ministry of Home Affairs’ (MHA) prior reference category in 2016, restricting it from making unregulated donations to Indian NGOs. However, officials suspect OSF circumvented these restrictions by establishing subsidiaries in India and routing funds under the guise of FDI and consultancy fees.

A second official noted that ED is examining the end-use of other FDI funds brought in by SEDF and OSF in India.

SEDF’s Investment History in India

According to VCCEdge, the data platform owned by HT Media, SEDF invested INR50 crore in its impact-focused subsidiary, Aspada Investments, in 2013. Aspada Fund 1, its first fund, later raised around INR271 crore, which it used to invest in over a dozen companies, including quick commerce platform Dunzo Digital, WayCool Foods and Products, and NeoGrowth Credit.

SEDF later sold a controlling stake in Aspada to LGT, a private banking and asset management group owned by the Princely House of Liechtenstein. In 2021, this entity was renamed Lightrock, which continues to invest in impact-driven businesses in India.

OSF’s Presence and Restrictions in India

OSF, one of the world’s largest private funders of human rights advocacy, impact investment, and justice-related initiatives, began operations in India in 1999. However, officials confirm that OSF does not have a formal office in the country.

The organization’s website acknowledges that its funding activities in India have been constrained since mid-2016 due to government restrictions.

Political Controversy Surrounding George Soros

The Bharatiya Janata Party (BJP)-led central government has previously linked Soros to Congress leaders Sonia Gandhi and Rahul Gandhi. In December 2024, BJP MP Nishikant Dubey accused the Congress of collaborating with the Organized Crime and Corruption Reporting Project (OCCRP), a global investigative journalism initiative allegedly backed by Soros’ OSF, to undermine India’s Parliament and government. BJP MP Sambit Patra also alleged that Rahul Gandhi was part of a “triangle” with Soros and OCCRP aimed at destabilizing India.

Neither OSF nor SEDF has responded to queries regarding the ED’s latest actions.