NEW DELHI: Hindenburg Analysis, the agency identified for its vital report on the Adani Group, has made allegations in opposition to Madhabi Puri Buch, the chief of Securities and Change Board of India (Sebi). They declare that she had stakes in “obscure offshore entities utilized in Adani cash siphoning scandal”.
This growth provides a brand new layer to the continuing scrutiny of the Adani Group, which has confronted vital allegations of economic misconduct, together with fraud and accounting irregularities, leading to a considerable lack of market worth.
This growth provides a brand new layer to the continuing scrutiny of the Adani Group, which has confronted vital allegations of economic misconduct, together with fraud and accounting irregularities, leading to a considerable lack of market worth.
Hindenburg’s preliminary report in January 2023 accused the Adani Group of partaking in varied fraudulent actions, resulting in a market worth erosion of over $150 billion. The report prompted Sebi to analyze the group, together with its offshore investments and monetary practices.
Just lately, SEBI issued a show-cause discover to Hindenburg, alleging that the agency colluded with a US hedge fund to revenue from the report through the use of personal data.
(This can be a growing story)
