Sebi has a strong case against US-based Hindenburg Research, say lawyers

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Sebi has a strong case against US-based Hindenburg Research, say lawyers - Business Standard

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The fund and KMIL had no prior knowledge of the publication of the aforesaid Hindenburg report.“We deny any allegation of being aware of such report or acting in collusion in any manner with Kingdon or Hindenburg.

Soon after Hindenburg Research’s report was made public in January 2023, the share prices of Adani Group companies crashed, wiping out $150 billion of the group’s market valuation.

Loona said, if Hindenburg or its partner do not join the investigation then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in the US courts as per the reciprocal treatment agreed to between the two countries — India and the US.