Page 16 - Adani

Hindenburg row: Cong holds protests, demands Buch's resignation, JPC probe

The Uttar Pradesh Congress held a demonstration here on Thursday, demanding Securities Exchange Board of India (SEBI) chief Madhavi Buch's resignation and the formation of a Joint Parliamentary Committee (JPC) to investigate the Adani issue. Led by state Congress president Ajay Rai, a large number of party leaders and workers protested outside the Raj Bhavan and demanded the formation of a JPC on the recent Hindenburg report. The Congress' provincial spokesperson Anshu Awasthi said party workers were marching towards the office of the Enforcement Directorate (ED) in Lucknow but police stopped them near the Raj Bhavan, where they held their demonstration. State Congress president Rai said the recent Hindenburg Research report has completely exposed "corruption". "SEBI chief Madhavi Buch should resign or she should be dismissed," he added. Rai also said that the Hindenburg report has exposed the Adani group's "scams". The opposition party has stepped up its attack on the government

Telangana Cong govt hold protest demanding JPC probe into Adani issue

Telangana Chief Minister and state Congress chief A Revanth Reddy, his ministerial colleagues and party legislators on Thursday took part in a dharna here demanding SEBI chief Madhabi Buch's resignation and a Joint Parliamentary Committee probe into the Adani issue. Senior Congress leader and former external affairs minister Salman Khurshid were among the party leaders, who also took part in the protest. Holding placards "The Truth Will Prevail" and raising slogans, the Telangana Pradesh Congress Committee (TPCC) leaders and workers, as part of a nationwide agitation, took out a rally from Gun Park to the Enforcement Directorate (ED) office and later participated in the dharna in front of the ED office premises. "We demand the resignation of the SEBI chairperson and constitution of the JPC to investigate Adani Megascam," they said. The Congress has stepped up its attack on the NDA government after Hindenburg Research launched a fresh broadside against market regulator SEBI chairper

Gautam Adani planning to revamp family offices, hire auditors and CEO

The moves aim to bring transparency in how the wealth of Asia's second-richest person, valued at $105.4 billion

Adani group Ebitda surges 33% in Q1, leverage at 2.2x at multi-year low

Billionaire Gautam Adani's ports-to-energy conglomerate saw June quarter pre-tax profit surge by 33 per cent on back of strong performance by core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports. "EBITDA (in April-June) surged by 32.87 per cent year-on-year to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year," the group said in a statement. Group net profit jumped over 50 per cent to Rs 10,279 crore in April-June - the first quarter of the current 2024-25 fiscal year. "The consistently advancing EBITDA is largely driven by the Group's highly stable and resilient 'core infrastructure' platform, which constitutes over 80 per cent of the portfolio EBITDA and saw a remarkable 41.6 per cent growth year-on-year in Q1," it said. The core infrastructure platform comprises flagship Adani Enterprises Ltd's ...

Sebi chief Buch earned revenue in potential rules violation, show documents

Buch joined SEBI in 2017 and was appointed to the top position in March 2022. In those seven years, Agora Advisory Pvt Ltd in which Buch has 99 per cent shareholding, earned a revenue of Rs 3.71 crore

Hindenburg tip of iceberg, only JPC probe can unravel truth: Congress

The demand for a Joint Parliamentary Committee probe into the Adani issue goes beyond the Hindenburg Research's revelations, the Congress said Friday and claimed the "irregularities and wrongdoings" relating to the business conglomerate span every dimension of the political economy. Congress general secretary in-charge communications Jairam Ramesh said "Hindenburg is only the tip of the iceberg" and its allegations are limited to those that deal with the capital markets. "The demand for a Joint Parliamentary Committee (JPC) investigation into the Adani Mega Scam goes far beyond the revelations made by Hindenburg Research's reports. "Irregularities and wrongdoings relating to the Adani Group span every dimension of the political economy, as documented in our 100 question series HAHK (Hum Adani Ke Hain Kaun)," Ramesh said in a post on 'X'. Elaborating on what he said were key elements of the "scam", Ramesh claimed it pertains to "misuse" of India's investigative agencies to secure ..

Govt's changed power export rules could lead to gain for Adani: Report

Plants selling their entire power to India's neighboring countries may be allowed a domestic grid connection in case of a consistent drop in offtake or payment defaults

Hindenburg-Adani saga: Congress announces nationwide protest; check details

Amid the raging row over the Hindenburg allegations, the Congress on Tuesday announced that it will hold a nationwide agitation on August 22 demanding SEBI Chief Madhabi Puri Buch’s resignation

MSCI lifts freeze on Adani stocks, revises stance amid Hindenburg fallout

MSCI, which had earlier excluded Adani Energy and Adani Enterprises from the global standard index, stated it would now review the companies' fundraising activities

Hindenburg allegations: After early selloff, Adani stocks limit losses

Mcap plunges as much as Rs 1.2 trillion before recouping most losses; Markets end flat after opening lower

Hindenburg asks Sebi chief Buch to come clean on issues raised in report

Continuing its broadside against Sebi chairperson Madhabi Puri Buch, US short-seller Hindenburg Research has asked her to come clean on the clients of a consulting firm in which she held stake even while being in office. Hours after Madhabi and her husband, Dhaval issued a statement calling Hindenburg's latest tirade as an attack on the credibility of Sebi and attempted "character assassination", Hindenburg in a series of posts on X said their response includes several important admissions and raised numerous new critical questions. "Buch's response now publicly confirms her investment in an obscure Bermuda/Mauritius fund structure, alongside money allegedly siphoned by Vinod Adani. She also confirmed the fund was run by a childhood friend of her husband, who at the time was an Adani director," it said. Hindenburg had on Saturday alleged that the Buchs opened an account in 2015 with a wealth management firm in Singapore to invest undisclosed sum of money in a Mauritius-registered ..

Adani shares, Kolkata doctor rape and murder case & more

Stock market Today, shares of the Adani Group dropped by up to 17% following fresh allegations from Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband.

Kenya's aviation union workers to strike over airport deal with Adani

The Kenya Aviation Workers Union, which represents airport workers, said the proposed agreement announced last month with India's Adani Airport Holdings would lead to job losses

Hindenburg research's claims baseless, misleading: REITs Association

Indian REITs Association on Monday said that claims made by the US-based short seller Hindenburg Research suggesting that the REIT framework made by markets regulator Sebi serves the interests of a select few are "baseless and misleading". In fact, the association has commended Sebi and its leadership for crafting a "rigorous regulatory environment" that includes comprehensive periodic reporting requirements, mandatory independent valuations, and strict governance standards. These measures are designed to enhance transparency and protect investor interests, it added. The statement came after the Hindenburg report on Saturday alleged that recent amendments to Sebi's REIT Regulations 2014 were made to benefit a specific multinational financial conglomerate. In this regard, the markets regulator stated that Sebi (REIT) Regulations, 2014 has been amended from time to time. In a statement, the association said that since the introduction of REIT (Real Estate Investment Trust) regulation

Govt has nothing further to add: DEA Secy on Sebi-Hindenburg controversy

Both Sebi and the Buchs issued separate statements rebutting all the allegations

Strict action against Hindenburg for defaming the country: Giriraj Singh

Union Minister Giriraj Singh on Monday said Hindenburg Research has defamed the country in alliance with Congress and the "strictest action" will be taken against the US short-seller. Hindenburg on Saturday launched a broadside against markets regulator Sebi chairperson Madhabi Buch, alleging she and her husband Dhaval had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal. The duo has denied the allegations as baseless and asserted their finances are an open book. The Adani Group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the Sebi chairperson or her husband. Talking to reporters on the sidelines of an event here, Singh, the Union Minister for Textiles, also came down heavily on Congress leaders Rahul Gandhi and Jairam Ramesh. "This is a gang to defame the country, Rahul (Gandhi) and Jairam Ramesh. Hindenburg defames us. We will not tolerate

Adani vs Hindenburg row: As Sebi chief accused, here's all you need to know

Hindenburg Research was founded in 2017 by Nathan Anderson

Cong urges SC to transfer Adani probe to CBI or SIT, cites Sebi concerns

Stepping up its attack on the PM Narendra Modi government over the Hindenburg Research's allegations against SEBI chairperson Madhabi Buch, the Congress on Monday threatened to launch a nationwide protest if its demand for a JPC (Joint Parliamentary Committee) probe into the matter is not accepted. AICC general secretary (Organisation), K C Venugopal, described the allegations as "very serious" and accused the Prime Minister of supporting Adani on the matter. "The Prime Minister's silence on the matter amounts to a destruction of credibility," Venugopal told reporters at the airport here. He accused the union government of trying to divert people's attention from the matter by using the Enforcement Directorate against Rahul Gandhi, the Leader of the Opposition in the Lok Sabha. "Don't try to threaten Rahul Gandhi with an ED notice. We will strongly oppose such diversionary tactics," the Alappuzha MP said. Venugopal said that "this is the most serious issue in the country" and warn

Hindenburg steps up for Adani round two, this time with attack on Sebi

Hindenburg's original report, in which it had accused the centi-billionaire of pulling largest con, caused Adani Group's market capitalisation to crater by $150 bn

Hindenburg row: IPE-Plus Fund 1 didn't invest in Adani stocks, says 360-One

Says fund in which the Buchs invested focused on debt, maintains no investor had any role in its ops