Hindenburg Report 2.0: The Complexities of Allegations Against the Adani Group and SEBI
Hindenburg Research, founded in 2017 by Nate Anderson, is a U.S.-based forensic financial research firm that specializes in exposing corporate fraud. Hindenburg faces criticism for its aggressive short-selling tactics, which some argue manipulate stock prices and harm investors. However, supporters believe that firms like Hindenburg are essential for maintaining market integrity by exposing fraudulent activities. In recent times, the Adani Group has been the focus of multiple controversies, especially regarding financial practices. One of the most notable controversies began last year when Hindenburg Research accused the Adani Group of violating Indian market regulations, specifically the rule that public companies cannot own more than 75% of their own shares. Hindenburg alleged that Adani exceeded this limit, causing a public outcry. The Securities and Exchange Board of India (SEBI) was tasked with investigating these claims. After a detailed investigation, SEBI dismissed the allega