Page 17 - Adani

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

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