By – Aditi Gupta<\/p>\n\n\n\n
Hindenburg was charged by SEBI of short selling Adani Group shares in order to profit unfairly by using “non-public” and “misleading” information.<\/p>\n\n\n\n
Market oversight Sebi claims that US short-seller Hindenburg Research shared its report critical of the Adani Group with New York-based hedge fund manager Mark Kingdon roughly two months prior to publishing it. Kingdon profited from the deal by splitting the losses caused by the share price swings.<\/p>\n\n\n\n
In a 46-page show cause notice to Hindenburg, SEBI provided details on how US short sellers, a New York hedge fund, and a broker connected to Kotak Mahindra Bank made money off of the $150 billion decline in the market value of ten Adani Group listed enterprises following the release of the report.<\/p>\n\n\n\n
For Kingdon Capital Management, a customer of Kotak Mahindra (International) Limited, the fund made wagers on Adani Enterprises Limited. Excerpts from discussions between KMIL dealers and a hedge fund employee about selling futures contracts in AEL are included in the SEBI notice. Last year, SEBI informed a panel created by the Supreme Court that it was conducting investigations into 13 opaque firms that owned 14% to 20% of the shares in Adani Group.
Not only has SEBI sent letters to Hindenburg, but also to Kingdon, Kotak Mahindra International Limited, and Nathan Anderson, the founder of Hindenburg. In a statement uploaded on messaging platform X, senior attorney Mahesh Jethmalani asserted that Kingdon has relations to China. The ‘Chinese spy’ Anla Cheng is Kingdon’s wife, he claimed.<\/p>\n\n\n\n
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By – Aditi Gupta Hindenburg was charged by SEBI of short selling Adani Group shares in order to profit unfairly by using “non-public” and “misleading” information. Market oversight Sebi claims that US short-seller Hindenburg Research shared its report critical of the Adani Group with New York-based hedge fund manager Mark Kingdon roughly two months prior […]<\/p>\n","protected":false},"author":1,"featured_media":4421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[3249,2254,402,3578,1231,2253,3354,3579,47,3577,2256,3355,401,2255,1024,31,483],"_links":{"self":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts\/4420"}],"collection":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=4420"}],"version-history":[{"count":1,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts\/4420\/revisions"}],"predecessor-version":[{"id":4422,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/posts\/4420\/revisions\/4422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/media\/4421"}],"wp:attachment":[{"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=4420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=4420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/viralplanetnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=4420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}