Suspense Crime Sach Ka Dam
American shortseller company Hindenburg Research has hinted at making another big announcement regarding India. On Saturday, the American shortseller said in a post on X (formerly Twitter), “Something big will happen in India soon.” It is worth noting that on January 24 last year, Hindenburg Research made serious allegations against the Adani Group. These included several allegations including fraudulent transactions and manipulation of share prices by the group. After these allegations, the shares of Adani Group fell sharply.
Adani Group’s market cap fell by $86 billion and there was a massive sale of its foreign-listed bonds. However, Adani Group rejected these allegations as false. Now Adani Group has also got a clean chit from SEBI. Once again Hindenburg Research has hinted at making a big disclosure. After this news, clouds of doubt have again loomed.
Cases of many companies exposed
Hindenburg was founded by Anderson in 2017. Hindenburg has previously published reports against Lordstown Motors Corporation (USA), Kandi (China), Nikola Motor Company (USA), Clover Health (USA) and Technoglass (Colombia). Apart from these, Hindenburg had also published a report against NYSE-listed company Welltower Inc. less than two months before publishing the report on Adani Group. Adani Group’s stock had fallen sharply after allegations of fraud were made in a report by Hindenburg Research. Hindenburg had released a 100-page report alleging fraud against the Adani Group.
Kotak’s recent involvement
The Securities and Exchange Board of India (SEBI) has revealed new developments in the Adani-Hindenburg case, shedding light on the links between US-based short-seller Hindenburg Research and New York hedge fund manager Mark Kingdon. According to SEBI, Hindenburg shared an advance copy of its report on the Adani Group with Kingdon about two months before the public release, thereby earning significant profits through strategic trading.
