Brief by Shorts91 Newsdesk / 07:56am on 02 Jul 2024,Tuesday Business
Hindenburg Research, responding to SEBI's show cause notice, accused the regulator of not naming Kotak Bank in the Adani short-selling saga. The US firm claimed Kotak Mahindra Investment, referred to as 'KMIL' by SEBI, managed offshore funds used to short Adani Group shares. Hindenburg suggested SEBI's omission aimed to protect powerful Indian figures and criticized its jurisdiction claims. The research firm disclosed its short position against Adani, seeking further transparency on SEBI’s process and considering a Right to Information request for details on interactions between SEBI and Adani representatives.
