Sebi Lens On Hindenburg

New Delhi: Infamousshort-selling firm Hindenburg Research, which is now being disbanded as per an open letter from its founder Nate Anderson, has been under the radar of Indian regulators like the Securities and Exchange Board of India (Sebi) over its report against the Adani Group, which was dismissed by the Supreme Court.

The Adani Group always vehemently rejected allegations by Hindenburg Research as ‘malicious, mischievous and manipulative selections of publicly available information’ to arrive at ‘pre-determined conclusions for personal profiteering with wanton disregard for facts and the law’.

“For a discredited short-seller under the scanner for several violations of Indian securities laws, Hindenburg’s allegations are no more than red herrings thrown by a desperate entity,” according to the Group.

The Sebi last year issued a show-cause notice to Hindenburg Research, Nate Anderson and the entities of Mauritius-based foreign portfolio investor Mark Kingdon for trading violations in the scrip of Adani Enterprises Ltd leading up to Hindenburg Report.