Monday, September 1, 2025
spot_img

SEBI issues show-cause notice to Hindenburg, Nathan Anderson over Adani report

Date:

Share post:

spot_imgspot_img

Shillong, July 2: The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to Hindenburg Research, Nathan Anderson and the entities of Mauritius-based foreign portfolio investor (FPI) Mark Kingdon for trading violations in the scrip of Adani Enterprises Ltd, leading up to Hindenburg report and thereafter.

 

In the 46-page show-cause notice, The markets regulator has alleged that Hindenburg and Anderson violated regulations under the SEBI Act, SEBI’s Prevention of Fraudulent and Unfair Trade Practices regulations, and its Code of Conduct for Research Analyst regulations.

 

Meanwhile, FPI Kingdon has allegedly violated SEBI Act, SEBI’s Prevention of Fraudulent and Unfair Trade Practices regulations and SEBI’s Code of Conduct for Foreign Portfolio Investors, according to the show-cause notice.

 

The markets regulator pointed out that the Hindenburg and the FPI entities undertook a misleading disclaimer that the report was solely for the valuation of securities traded outside India when it clearly pertained to listed entities in India.

 

The regulator said Kingdon aided Hindenburg to indirectly participate in Adani Enterprises by collaborating with the short seller to trade in the company’s futures in the Indian derivatives market and shared profits with the research firm.

 

Hindenburg continues to defend its report that came out in January 2023. (IANS)

spot_imgspot_img

Related articles

FIR lodged against Assam BJP leaders for alleged attack on Rajiv Bhawan

Guwahati, Sept. 1: The Assam Pradesh Congress Committee (APCC) on Monday lodged an FIR at Bhangagarh police station...

USTM remembers PA Sangma on his 78th birth anniversary

Guwahati, Sept. 1: The University of Science and Technology Meghalaya (USTM) on Monday remembered former Lok Sabha Speaker...

Experts praise PM Modi’s message against cross-border terrorism, hail SCO stand on Pahalgam

New Delhi, Sep 1: Foreign and defence experts on Monday welcomed the joint statement of the Shanghai Cooperation...

As PM Modi wraps up China visit, Rubio calls US-India partnership ‘defining relationship of 21st century’

New Delhi/Washington, Sep 1: Shortly after videos and images of Prime Minister Narendra Modi going into a huddle...