Hindenburg

News, The Morning Context

Swiss court ruling an indictment of SEBI, Indian courts in Adani affair

/

A Swiss Federal Criminal Court ruling is seen as an indictment of SEBI and Indian courts in the Adani affair. The verdict is based on an appeal to unfreeze an entity’s bank accounts, which indirectly weighed on allegations that the Adani group’s promoters had sold/bought more shares than legally permissible, to inflate share prices. The alleged proxy is Sanilion, linked to Chang Chung-Ling. The court documents reference money laundering and embezzlement suspicions.

Adani Watch, News

Contradictions and delays cast doubts on regulator’s probe into Adani’s transactions

/

The investigations by the Securities and Exchange Board of India (SEBI) into transactions by Adani Group entities have been marred by controversy, raising questions about its ability to handle the high-stakes probe with transparency and efficiency. The Supreme Court of India stipulated a deadline of 2 May 2023 for SEBI to conclude its investigation. However, in May, in response to applications by SEBI, the court extended that deadline to 14 August 2023. SEBI’s floundering has brought the regulator under increased scrutiny.

Adani Watch, News

Adani axes projects and spending in wake of Hindenburg rout

/

Major fossil-fuel projects have a question mark hanging over them since Adani’s Hindenburg-driven credit crunch. Three months on from the bombshell Hindenburg report, the Adani Group’s fortunes are yet to turn. The Hindenburg allegations have created a lasting political scandal in India. Meanwhile, on the business side of things, the group faces a persistent debt crunch. Continuing media scrutiny has resulted in a flow of damaging revelations about the group’s businesses. Despite a halting recovery in the stock markets, the group’s net loss since the Hindenburg report is still over US $100 billion.

Start typing and press enter to search

Scroll to Top