![Rules for rule-makers](https://cdn.magzter.com/1366109351/1723690342/articles/DBnL7vMAP1723709474509/RULES-FOR-RULEMAKERS.jpg)
THE BJP SAYS IT is a conspiracy to destabilise India's financial markets. The Congress wants a joint parliament committee probe. Irrespective of which side you are on, the latest report by Hindenburg Research has put the market regulator Securities and Exchange Board of India and its chairperson Madhabi Puri Buch in a spot over conflict of interest. It also raises broader compliance issues the very regulator has looked to address over the years.
Founded by Nathan Anderson, the New-York-based Hindenburg specialises in forensic financial research. In particular, it looks for situations where companies might have accounting irregularities, bad actors in management, undisclosed transactions, unethical business practices, undisclosed regulatory issues and the like. And it also aims to profit from its research through short-selling, a trading strategy where stock traders take a position that a particular stock price will fall. Often its report itself drives the stock price lower, like it did in January 2023, when its report on Adani Group alleging accounting fraud, stock price manipulation and money laundering wiped off around $150 billion in the group's market cap. Hindenburg made $4.1 million revenue by shorting Adani securities on behalf of its client.
In its latest report, Hindenburg alleged that despite enough evidence, SEBI did not act against Adani. It alleges that Buch and her husband, Dhaval, had investments in the same obscure offshore funds used by Adani Group chairman Gautam Adani's brother Vinod. It also alleged that while Dhaval was a senior adviser at American investment management company Blackstone and Buch was a SEBI official, two Blackstone-sponsored real estate investment trusts (REITs) received the approval to go public in India, and after she became chair, SEBI implemented several REITs regulations that benefited Blackstone.
Denne historien er fra August 25, 2024-utgaven av THE WEEK India.
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Denne historien er fra August 25, 2024-utgaven av THE WEEK India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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![Two-horse race](https://reseuro.magzter.com/100x125/articles/3180/1829780/igr-RGbbs1726123839381/TWOHORSE-RACE.jpg)
Two-horse race
Can the NC-Congress alliance reshape the future of Jammu and Kashmir?
![Man-eaters don't spare women](https://reseuro.magzter.com/100x125/articles/3180/1829780/ZgyJvWjD11726123773077/MANEATERS-DONT-SPARE-WOMEN.jpg)
Man-eaters don't spare women
Critics say Narendra Modi’s decade-long rule has been one of jobless growth. Factories produced more, companies earned more, owners profited more, the government earned more; but fewer hands were hired, or those who were hired got work for fewer days. Putting the last two together, economists said the Indian economy generated fewer ‘man-days’.
![Decolonising the mindset](https://reseuro.magzter.com/100x125/articles/3180/1829780/TRh0SVTpU1726123661782/DECOLONISING-THE-MINDSET.jpg)
Decolonising the mindset
The vision of a Viksit Bharat hinges on India T breaking from the shackles of a colonial mindset and embodying the freedom of being unapologetically Indian. The laws of any nation are the cornerstone of its growth. The legal system offers the stability and adaptability essential for a country to thrive. The laws must be simple to understand and specific in their consequence.
![The making of India's Mr Difficult Words](https://reseuro.magzter.com/100x125/articles/3180/1829780/j_Xl2B1Pr1726123520271/THE-MAKING-OF-INDIAS-MR-DIFFICULT-WORDS.jpg)
The making of India's Mr Difficult Words
When my publishers at Aleph invited me to put together a book on words and language, I hesitated for a brief moment.
![Couture's creepy corridors](https://reseuro.magzter.com/100x125/articles/3180/1829780/i1FBENLVZ1726123468639/COUTURES-CREEPY-CORRIDORS.jpg)
Couture's creepy corridors
If one is spending a summer in New York, any summer in New York, an absolute must-do is to spend an afternoon at the city’s Metropolitan Museum of Art, on the edge of Central Park, just gawking in gobsmacked awe at the annual fashion exhibition the museum’s Costume Institute puts together.
![Stree 2 has given us hope](https://reseuro.magzter.com/100x125/articles/3180/1829780/w3cLLc7p01726123398913/STREE-2-HAS-GIVEN-US-HOPE.jpg)
Stree 2 has given us hope
The unprecedented success of Stree 2 is the best news we have had in the recent times and with an unabashedly feminist agenda, has comprehensively out-performed Sandeep Reddy Vanga's toxic masculine star-studded Animal at the box office is (to me, at least) kind of the cinematic equivalent of Awadhesh Prasad winning Ayodhya-it redeems my faith in the inherent decency of Indians.
![BRANDS BEYOND RAMPS](https://reseuro.magzter.com/100x125/articles/3180/1829780/EAgs-bOUn1726123259098/BRANDS-BEYOND-RAMPS.jpg)
BRANDS BEYOND RAMPS
Whether through carpets, fragrances or home interiors, Indian couturiers are defying their own limits
![RESERVOIR OF WORRIES](https://reseuro.magzter.com/100x125/articles/3180/1829780/N7iIzQAz01726122736103/RESERVOIR-OF-WORRIES.jpg)
RESERVOIR OF WORRIES
India has a robust dam management systém on paper, but inadequate maintenance and climate change pose serious threats
![INTER-STATE ISSUES HAVE NO EFFECT ON DAM SAFETY](https://reseuro.magzter.com/100x125/articles/3180/1829780/qa6NEJ4oB1726123059916/INTERSTATE-ISSUES-HAVE-NO-EFFECT-ON-DAM-SAFETY.jpg)
INTER-STATE ISSUES HAVE NO EFFECT ON DAM SAFETY
INTERVIEW: KUSHVINDER VOHRA INTERVIEW Chairman, Central Water Commission
![DAMS SHOULD BECOME ONE OF THE WAYS TO MITIGATE CLIMATE CHANGE IMPACT](https://reseuro.magzter.com/100x125/articles/3180/1829780/T1B_SxUvD1726123152915/DAMS-SHOULD-BECOME-ONE-OF-THE-WAYS-TO-MITIGATE-CLIMATE-CHANGE-IMPACT.jpg)
DAMS SHOULD BECOME ONE OF THE WAYS TO MITIGATE CLIMATE CHANGE IMPACT
INTERVIEW - ERIC HALPIN dam and levee consultant