Page 17 - Adani

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

Rahul Gandhi slams govt over Hindenburg allegations, says JPC probe must

Leader of Opposition in the Lok Sabha Rahul Gandhi on Sunday said the integrity of SEBI has been "gravely compromised" by the allegations against its chairperson and asked whether the Supreme Court would look into this matter suo motu once again. His remarks came after US short-seller Hindenburg Research on Saturday alleged that market regulator SEBI chairperson Madhabi Buch and her husband had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal. In a post on X, Gandhi said, "The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its Chairperson." "Honest investors across the country have pressing questions for the government: Why hasn't SEBI Chairperson Madhabi Puri Buch resigned yet? If investors lose their hard-earned money, who will be held accountable -- ?PM Modi, the SEBI Chairperson, or Gautam Adani?" the former Congress chief ...

Hindenburg row: Congress interested in anarchy, controversies, says Scindia

Union Communications Minister Jyotiraditya Scindia on Sunday accused the Congress of spreading anarchy and controversies over the Hindenburg Research's allegations against SEBI chairperson Madhabi Buch. A political firestorm erupted after the US short-seller alleged that it suspects SEBI's unwillingness to act against the Adani group may be because its head Madhabi Puri Buch had stakes in offshore funds linked to the conglomerate. "Congress's work is only to spread anarchy and entangle the country in controversial matters," said Scindia while responding to reporters' query on the Hindenburg Research report. The Guna MP said PM Narendra Modi and BJP workers are carrying the torch of development and progress, whereas the Congress has been trying to mislead the country and keep it in the dark for years. The SEBI has slammed Hindenburg Research's allegations as "baseless" while the Adani group said it never had any commercial relations with Buch. Madhabi Puri Buch and her husband Dhav

Hindenburg attacking Sebi's credibility, say Madhabi and Dhaval Buch

US-based short seller Hindenburg Research is attempting to attack Sebi's credibility and indulging in character assassination of its chairperson, Sebi chief Madhabi Puri Buch and her husband Dhaval said on Sunday. In a detailed statement issued on Sunday evening in response to allegations made by Hindenburg, the Buchs said their investment in a fund promoted by IIFL Wealth Management was as Singapore-based private citizens, and made two years before Madhabi joined Sebi as a whole-time member. They said Dhaval, a senior advisor at Blackstone since 2019, is not associated with the real estate side of the private equity major. The statement also said that Madhabi's two consulting companies immediately became "dormant" on her appointment at Sebi in 2017 as a whole-time member. "Hindenburg has been served a show cause notice for a variety of violations in India. It is unfortunate that instead of replying to the Show Cause Notice, they have chosen to attack the credibility of the SEBI an

TMC demands immediate suspension of Sebi chair Buch after Hindenburg report

The TMC on Sunday demanded that SEBI chairperson Madhabi Puri Buch should immediately be suspended in the wake of US short-seller Hindenburg Research's allegation that she and her husband had stakes in obscure offshore funds linked to Adani group. Hindenburg accused Buch and her husband of having undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by Vinod Adani - the elder brother of group chairman Gautam Adani - to round-trip funds and inflate stock prices. Reacting to the development, senior TMC leader Sukhendu Sekhar Ray said, "SEBI chief should be suspended in no time, and lookout notices must be issued to all airports to prevent her and her husband from leaving the country." The head of the Securities and Exchange Board of India (SEBI) termed the allegation as "baseless" while Adani group said it never had any commercial relations with Buch. TMC MP Mahua Moitra said, "One simple point - Chairperson who has invested in

Buch issues fresh details, says Blackstone on her 'recusal list' with Sebi

Amidst allegations from Hindenburg, the couple stated that they never had exposure to Adani firms

'Didn't give time': Group clarifies Gautam Adani's succession plan comment

Adani Enterprises clarified that Chairman Gautam Adani's succession comments were misquoted, and no date for his retirement or transfer of control to his sons was given

Adani Energy Solutions raises $1 billion, gets bids from US investors

The issue received bids from utility-focussed U.S. investors entering India for the first time along with sovereign wealth funds, Indian mutual funds, and insurance companies, Adani Energy said

The Adani heirs: Meet the future leaders of a $213 billion empire

The future of the Adani dynasty rests in the hands of his two sons, Karan and Jeet, along with their cousins Pranav and Sagar

Gautam Adani plans to step down at 70, to cede control to family in 2030s

When Adani retires, his four heirs - sons Karan and Jeet, and their cousins Pranav and Sagar - will become equal beneficiaries of the family trust

INQ Holdings, SBI funds, Citigroup big buyers in Adani Energy's $1 bn QIP

A unit of Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group's power transmission unit's USD 1 billion QIP, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire Stanley Druckenmiller's family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a

Dharavi redevelopment gets new boost as resident body supports govt survey

In a shot in the arm for redevelopment of Asia's biggest slum, a newly formed association of residents of Dharavi and its vicinity has lent its support to ongoing state government-led survey of informal tenements, a precursor to the USD 3-billion project by the Adani group that promises to transform lives of an estimated one million residents. "We request the survey be conducted at the earliest possible time to ensure that the redevelopment can move forward without further delays," Citizen and Society Development Welfare body of Dharavi residents wrote to SVR Srinivas, CEO Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA), of government of Maharashtra, on July 30. Representatives of Citizen and Society Development Welfare, who have given the slogan of Dharavi Banao Andolan, met Srinivas and submitted a memorandum seeking expedition of the survey being conducted in Dharavi. The survey, which began on March 18, 2024, has so far completed 10,000 tenements via door t

Adani Energy's $1-bn QIP subscribed 6 times with Rs 50k cr demand

Billionaire Stanley Druckenmiller's family office-led investment firms have made their maiden bet on Adani group, seeking shares of the conglomerate's power transmission unit in an institutional sale that was oversubscribed six-times and fetching demand of over Rs 50,000 crore against an issue size of USD 1 billion. Duquesne Family Office and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - invested in the qualified institutional placement (QIP) of Adani Energy Solutions, sources with direct knowledge of the matter said. The Rs 8,340 crore (USD 1 billion) issue saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Sources said the issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies wi

Adani Group planning investment in two airports in Vietnam: Report

The Group plans to expand its collaboration with Vietnamese partners in the aviation and logistics sectors through the development of Long Thanh and Chu Lai airports