Sebi moves ahead with action against Hindenburg, others in Adani case: Report

SEBI has begun hearings in a case involving suspected use of prior knowledge of Hindenburg Research’s Adani report to profit from short-selling trades, Reuters reported. The regulator is also seeking to protect assets held in Mauritius as it moves to recover the alleged gains.

Sebi has started hearing representations as it seeks to recover gains from trades it suspects were based on prior knowledge of Hindenburg Research’s 2023 report on the Adani Group. The regulator had alleged that Kingdon Capital built short positions in Adani-related stocks…