Adani Update – Our Response To India’s Securities Regulator SEBI https://hindenburgresearch.com/adani-update-sebi/ July 1, 2024 To this day, Adani has still failed to address the allegations in our report, instead providing a response that ignored every key issue we raised and has offered blanket denials of subsequent media allegations....SEBI seems more interested in pursuing those who expose such practices. This stance is broadly in line with the actions of other elements of Indian government which have sought to arrest 4 journalists for writing critical articles about Adani and expelled members of parliament who were critical of Adani.
..Much of the notice seemed designed to imply that our legal and disclosed investment stance was something secret or insidious, or to advance novel legal arguments claiming jurisdiction over us...
Buried all the way down on page 24 of the 46-page notice, SEBI finally touched on the substance of our research, where it made the nebulous allegation that our report “contained certain misrepresentations/inaccurate statements” meant to “mislead readers.”
As far as alleged “inaccuracies” with our research, that was all SEBI came up with: nothing. We encourage readers to review the notice for themselves and draw their own conclusions.
SEBI’s job as a securities regulator is to detect and stop the types of malfeasance that we exposed.[4]
In our view, SEBI has neglected its responsibility, seemingly doing more to protect those perpetrating fraud than to protect the investors being victimized by it.
These actions send a clear message to every public company in India: Are you having a difficult time with your quarterly results? Do you want your stock price to be higher? (Who doesn’t?) Simply have your brother or another relative set up an offshore shell empire to buoy up the stock or rosy up your financials.
The incentives are clear: The gains from fraudulent activities outweigh the small risks of a potential ’slap on the wrist’ fine from regulators. And based on the hundreds of tips and leads we received following the Adani report, Adani is by no means the only lurking and ongoing issue SEBI has failed to address.
अदाणी मामला: सेबी से भिड़ा हिंडनबर्ग | Adani row: Hindenburg vs SEBIhttps://www.youtube.com/watch?v=sdlg79Gmt1Q
Adani saga heads for a messy closure https://economictimes.indiatimes.com/markets/stocks/news/adani-saga-heads-for-a-messy-closure/articleshow/111444852.cms Adani saga heads for a messy closure 3-7-24.
The Adani story has moved beyond Adani: it's now turning into a skirmish, playing out in full public glare, between Hindenburg - the American researcher and short-seller - and capital market regulator SEBI https://www.youtube.com/watch?v=u6Po-qqw9PA सेबी ने हिंडनबर्ग को कारण बताओ नोटिस जारी किया था, उसी का जवाब देते हुए हिंडनबर्ग ने सेबी का पूरा नोटिस और अपना जवाब सार्वजनिक कर दिया है। हिंडनबर्ग ने सेबी पर कई आरोप लगाए हैं। वीडियो रिकॉर्ड करने तक इन आरोपों पर सेबी की ओर से कोई जवाब नहीं आया है।
Adani-Hindenburg Saga, SEBI Challenges Alleged Misrepresentation Report | Kotak Bank Involved? https://www.youtube.com/watch?v=Njg6gXpi3l0
'Why Will We Say Anything On Adani?,' SEBI https://www.youtube.com/watch?v=ET6Ann60Qco . 30th March 20023 . SEBI says that it will not comment on "identity specific" issues and that since the matter is also sub-judice it would be inappropriate to comment on it. Chairperson Madhabi Puri Buch Laughs addressing the media after a meeting on market reforms., she said I don't know why all of you expect that. Why will we say anything on the Adani Hindenburg matter? SEBI ends practice of permanent board seats at listed companies.
Comments: PAUL VARGHESE Only one question. India is a member of IOSCO & SEBI is the implementation agency. As per the protocol, SEBI has to necessarily establish the beneficial ownership of the Mauritius based companies who invested in Adani companies to manipulate share prices. Why did SEBI in this? Your laughter is not enough, the retail investors want an answer. It no way adversely affects the case in Hon. Supreme Court.