Sunday, April 6, 2025

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

Date:

Share post:

Mumbai, 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

Related articles

Shillong, Jowai students bag top position in SSLC merit list

 Leisha Agarwal from St Margaret’s HS School and Avila Kathrene P Lyngdoh of North Liberty HS School, Jowai jointly...

High pass percentage triggers applause, critical questions

Our Bureau SHILLONG, April 5: Meghalaya’s Secondary School Leaving Certificate (SSLC) pass percentage jumped from 55.80% in 2023 to...

Govt distances itself from NEIGRIHMS controversy

By Our Reporter SHILLONG, April 5: The Meghalaya government has distanced itself from the ongoing imbroglio in NEIGRIHMS which...

AAI notifies tender for expansion of Shillong Airport

By Our Reporter SHILLONG, April 5: The Airports Authority of India (AAI) has issued a tender notice for the...