An 18-month battle between Hindenburg Research and India's Adani Group has taken a fresh turn, with the US-based short-seller now alleging that the chief of the Securities and Exchange Board of India (Sebi) has a conflict of interest in the matter. The country's market regulator has been investigating the group following Hindenburg Research's report.
Party to call for JPC probe; demand a sham to destabilise economy, counters BJP
The episode has raised two issues that must be addressed - first, of stock manipulation and violation of public shareholding norms via offshore funds, and second, disclosure norms for decision makers
Updated On : 13 Aug 2024 | 11:45 PM ISTAssociation has commended Sebi and its leadership for crafting a "rigorous regulatory environment" that includes comprehensive periodic reporting requirements, mandatory independent valuations
Updated On : 12 Aug 2024 | 5:05 PM ISTHindenburg Research was founded in 2017 by Nathan Anderson
Updated On : 12 Aug 2024 | 1:52 PM ISTThe petitioner has also called for the conclusive report by the Securities and Exchange Board of India (Sebi) on the probe carried out till now
The regulator said investigations into the allegations against Adani Group were completed in almost all matters, and that the chief had made relevant disclosures
Stock Market Highlights: 37 of the Nifty50's 50 constituent stocks ended in the red, dragged by Adani Enterprises, Adani Ports, SBI Life, SBI, and NTPC, with losses of up to 23.44 per cent
Investors will closely watch the implementation of new F&O rules, the NTPC Green Energy IPO, coupled with the Maharashtra Assembly election developments and Nifty50 expiry
According to Sebi's settlement order, there were several alleged violations of the FPI regulations and intermediary regulations
Anti-corruption ombudsman Lokpal on Friday sought SEBI chief Madhabi Puri Buch's "explanation" on complaints of impropriety and conflict of interest filed by a Lok Sabha member and two others on the basis of a report by US-based short-seller Hindenburg Research, according to an official order. The Lokpal, however, clarified its order is only a "procedural directive" and "not an expression of our opinion on any matter in issue, either way". Buch, the chairperson of capital markets regulator Securities and Exchange Board of India (SEBI), has been asked to submit her response within four weeks, according to the order. "...We deem it appropriate to call upon the named RPS (respondent public servant) to offer explanation qua the allegations made against her in the respective complainant and elaborated in the concerned explanatory affidavit," reads the order signed by Lokpal chairperson Justice A M Khanwilkar and five other members. "This opportunity is being afforded to the named RPS as
Roblox shares fell 9.2% in early trading after the short seller said the company conflated daily active users (DAUs) with the number of people visiting its platform
Shares of Adani Energy Solutions, Adani Ports, Adani Enterprises, Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar and Ambuja Cements were up in the range of 2 to 6 per cent.
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The Public Accounts Committee (PAC) of Parliament has decided to review the functioning of top regulatory authorities in the country and has called heads of SEBI and TRAI for deposition on October 24. Top officials of the Ministry of Finance, (Department of Economic Affairs) and Ministry of Communications have also been asked to appear before the key parliamentary panel, with sources saying representatives of the Securities and Exchange Board of India (SEBI) chairperson Badhabi Puri Buch and Telecom Regulatory Authority of India (TRAI) chairperson Anil Kumar Lahoti are likely to appear before the panel. Sources said the unstated convention in parliamentary practice is that chiefs of institutions have to attend parliamentary panel briefings whenever summoned. The meeting of the key parliamentary panel comes amid a major row over allegations made by US research body Hindenburg against SEBI chairperson Madhabi Puri Much and her husband Dhaval Buch over her alleged links with the Adani
Board expected to informally address conflict of interest claims and employee grievances
Sebi board meeting today, Sept 30, will be the first meeting since allegations were pressed against Sebi Chairperson Madhabi Puri Buch by Hindenburg Research. Here's what to expect from the meeting
FM said that Buch, along with her husband, had answered quite a few of the allegations levelled against her by the Congress party and have put forth the facts
Youth Congress activists on Monday demonstrated outside the SEBI office in Mumbai, demanding a probe into allegations raised against SEBI chairperson Madhabi Puri Buch and her resignation. Police detained the workers and booked them under various sections of the Bharatiya Nyay Sanhita (BNS). Citing the US short-seller Hindenburg Research's report, the party workers led by Mumbai Youth Congress president Akhilesh Yadav demanded Puri Buch's resignation, alleging a conflict of interest. "We wanted an inquiry into the allegations and Puri Buch's resignation from the post," said Yadav. Puri Buch and SEBI had denied allegations.
The Adani Group reiterated that its overseas holding structure is transparent, fully disclosed, and adheres to all applicable laws
Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stocks
The Congress party levelled fresh allegations against Sebi chairperson Madhabi Buch and her husband, accusing her of 'wilful ignorance' when faced with a conflict of interest
Noting that September 9 was the deadline for Foreign Portfolio Investors to disclose the beneficial owners of their holdings, the Congress on Wednesday asked SEBI if those implicated in the Adani matter have done so and why has it taken the capital markets regulator 18 months to enforce the new norm. Congress general secretary in-charge communications Jairam Ramesh said it is September 11 today, two days after the SEBI's September 9 deadline for Foreign Portfolio Investors (FPIs) - those who stand accused of holding concentrated portions of their equity portfolio in a single corporate group - to disclose the beneficial owners of their holdings. "We had raised this issue a few days ago, in light of information that two Mauritius-based FPIs that were part of the revelations in the still-unfolding Modani mega scam, have petitioned the Securities Appellate Tribunal to seek urgent relief from complying with these new foreign investor norms," he said in a post on X. "Some questions to the
Automaker rejects allegations as 'false and misleading', says it didn't seek 'preferential treatment' from regulator