Crime & Law · India
India Regulator SEBI Pursues Gains from Adani-Hindenburg Trades
India's Securities and Exchange Board of India (SEBI) has initiated hearings to potentially recover alleged illicit gains from trades made before the release of the Hindenburg Research report on the Adani Group. SEBI suspects that entities, including U.S.-based Kingdon Capital Management, built short positions in Adani-related stocks based on prior knowledge of the report. Although parties involved are based overseas, SEBI asserts jurisdiction because the trades occurred in India. The regulator is seeking to recover profits from these trades.
How outlets across the spectrum covered it
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- Centre (5): Business Standard, Business Today, Mint, The Economic Times, The Hindu BusinessLine
- International (1): Reuters