Hindenburg not a client of us: Kotak Mahindra Intl

Mumbai: Responding to a fresh controversy in the Adani saga, Kotak Mahindra International Ltd (KMIL) on Tuesday clarified that Hindenburg has never been a client or an investor of it.

KMIL said: “Kotak Mahindra International Ltd (KMIL) and KIOF unequivocally state that Hindenburg has never been a client of the firm nor has it ever been an investor in the Fund.” K-India Opportunities Fund (KIOF) is a Sebi-registered foreign portfolio investor and is regulated by the Financial Services Commission of Mauritius.

It further added that the Fund was never aware that Hindenburg that the US-based short seller was a partner of any of its investors. KMIL has further clarified that the Fund’s investments were made as a principal and not on behalf of any other person.