The News
A US hedge fund piled pressure on Indian regulators, alleging a top official had financial ties to one of Asia’s richest men.
Hindenburg Research’s claims of links between the Securities and Exchange Board of India and the brother of Gautam Adani come after the firm last year accused Adani’s conglomerate of fraud.
Hindenburg said it did not think SEBI “can be trusted as an objective arbiter in the Adani matter.”
The Indian regulator denied the accusations, and Adani’s company described the claims as “malicious, mischievous, and manipulative.”
Shares in the Adani Group fell by as much as 5.5% in early trading on Monday.
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