The Hindenburg-Adani saga has taken a dramatic turn, with India’s market regulator, SEBI, issuing a 46-pages notice to Hindenburg Research. This notice is part of SEBI’s investigation into trading activities related to Adani Enterprises. The development follows Hindenburg’s critical report on the Adani Group, which was released in January of last year and has since had significant repercussions.
SEBI’s notice revealed two new players: Kingdon Capital Management LLC, a New York hedge fund, and an offshore fund structure operated by Kotak Mahindra Bank. The notice alleges that Hindenburg had exclusively shared its Adani research with Kingdon Capital before publication, with the two firms having a profit-sharing arrangement. Kingdon reportedly used Kotak Mahindra Bank for its trading.
The entire saga gained more attention after senior lawyer and Rajya Sabha member Mahesh Jethmalani, on Friday claimed that Mark Kingdon, the American businessman behind Kingdon Capital Management LLC, commissioned the Hindenburg report. Jethmalani said that Kingdon approached Kotak Mahindra Investments Limited (KMIL) to establish an offshore fund and accounts for trading Adani shares, resulting in the creation of the Kotak India Opportunity Fund (KIOF).
هذه القصة مأخوذة من طبعة July 07, 2024 من The Sunday Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 07, 2024 من The Sunday Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
CBI SHOULD DISPEL 'CAGED PARROT' NOTION, SAYS SC
Supreme Court Judge, Justice Ujjal Bhuyan on Friday made a strong observation on the Central Bureau of Investigation (CBI) in relation to the arrest of Delhi Chief Minister Arvind Kejriwal in the excise policy case, saying that it is imperative that the cenral probe agency dispel the notion of being a \"caged parrot.\"
THE 2024 AMERICAN PRESIDENTIAL ELECTION CYCLE IS FAR FROM NORMAL
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