Brief by Shorts91 Newsdesk / 07:32am on 02 Jul 2024,Tuesday Business
Hindenburg Research, the U.S. firm that alleged fraud and stock manipulation by Adani Group, received a show cause notice from SEBI on July 2 for alleged violations related to its Adani bets. Hindenburg dismissed the notice as “nonsense” and accused SEBI of attempting to silence critics of powerful figures in India. The firm, which had disclosed a $4.1 million gain from shorting Adani stocks, reiterated its accusations of “brazen stock manipulation and accounting fraud” against the Adani Group, suggesting the notice was concocted to intimidate and suppress those exposing corruption.
