🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Adani-Hindenburg case: Review petition filed in SC against January 3 verdict

Livemint

Livemint · 1y ago

Adani-Hindenburg case: Review petition filed in SC against January 3 verdict

A review petition has been filed in the Supreme Court challenging its January 3 verdict on the Adani Group stock price manipulation case. The petition argues that there were errors in the judgment and presents new material that warrants a review. The petition also claims that the Securities and Exchange Board of India (SEBI) did not disclose any findings or action taken in its investigation into the allegations. The Supreme Court had previously declined to order a Central Bureau of Investigation (CBI) or special investigation team (SIT) probe, citing SEBI's ongoing comprehensive investigation.

Related News

Adani-Hindenburg saga: Review petition challenges Supreme Court’s ruling

Livemint

Livemint · 1y ago

Adani-Hindenburg saga: Review petition challenges Supreme Court’s ruling

A petitioner has filed a review petition in the Supreme Court seeking further investigation into the allegations against the Adani group. The petition claims that there are errors in the court's previous judgment and presents new evidence of violations by Adani Group companies. It challenges the court's observation about no regulatory failure and accuses the Securities and Exchange Board of India (Sebi) of not identifying the beneficial owners of overseas entities. The Supreme Court had dismissed previous petitions demanding a separate investigation into the Hindenburg Research allegations.

Vedanta gains on plans to move SC on Sterlite copper plant reopening

Money Control

Money Control · 1y ago

Vedanta gains on plans to move SC on Sterlite copper plant reopening

Vedanta plans to file a review petition in the Supreme Court regarding the closure of its Thoothukudi copper smelter plant. The company's shares rose by 0.46% following the news. Vedanta had previously filed a special leave petition against the Madras HC's decision to close the plant, but the Supreme Court dismissed the plea on February 29. The court cited Vedanta's non-compliance with legal obligations as the reason for the decision. The stock price of Vedanta has risen more than 18% in the past six months.

Mauritius-based FPIs named in Hindenburg report challenge new SEBI norms | Mint

Livemint

Livemint · 11m ago

Mauritius-based FPIs named in Hindenburg report challenge new SEBI norms | Mint

LTS Investment Funds and Lotus Global Investment, two Mauritius-based foreign portfolio investors (FPIs), have filed a petition with the Securities Appellate Tribunal (SAT) seeking relief from complying with the new foreign investor norms set by the Securities and Exchange Board of India (SEBI). The FPIs argue that the regulations unfairly disadvantage their investors. The case is set to be heard next week, and the FPIs have requested an exemption and more time for compliance. The funds were both mentioned in a report by short seller Hindenburg Research on the Adani Group.

Adani Hindenburg Case Verdict: SC directs SEBI to complete probe in 3 months

Livemint

Livemint · 1y ago

Adani Hindenburg Case Verdict: SC directs SEBI to complete probe in 3 months

The Supreme Court has ruled that there is no basis for transferring the investigation into the Adani Group fraud allegations from SEBI to a Special Investigation Team. SEBI has completed the investigation in 20 out of 22 matters and has been directed to conclude the remaining two cases within three months. The court rejected the reliance on the OCCRP report and stated that newspaper reports and third-party organizations cannot be considered conclusive evidence. The court also ordered the Centre and SEBI to investigate if the Hindenburg report violates any laws and to take appropriate legal action. Adani Group stocks surged after the verdict.

Adani stocks recover after losing $19 bn amid Hindenburg's fresh allegations

VCCircle

VCCircle · 1y ago

Adani stocks recover after losing $19 bn amid Hindenburg's fresh allegations

Adani Group's stocks suffered a $19 billion loss in market value following allegations made by Hindenburg Research. The short-selling firm accused the head of India's market regulator of having links to offshore funds used by Adani. Adani's stocks partially recovered later in the day. This is not the first time Hindenburg has targeted Adani Group with allegations of improper use of tax havens. Despite the losses, Adani's stocks have generally regained value since Hindenburg's initial report in January 2023. Adani has denied all the allegations made against it.

Gautam Adani's wealth rises by $5.6 billion amid market rally

Livemint

Livemint · 1y ago

Gautam Adani's wealth rises by $5.6 billion amid market rally

Billionaire Gautam Adani's net worth surged by $5.6 billion following a market rally prompted by the Supreme Court hearing on the Hindenburg report-related matter. The court reserved its verdict on allegations of corporate fraud against the Adani Group, noting that it won't solely rely on media reports. Adani is now ranked 20th on the Bloomberg Billionaires Index with a fortune of $65.8 billion. Additionally, Adani Group stocks gained about $9.8 billion in market value, driven by market optimism after the ruling party's victory in state elections.

NCLT tells Ashneer Grover to establish maintainability of plea against BharatPe

Economic Times

Economic Times · 1y ago

NCLT tells Ashneer Grover to establish maintainability of plea against BharatPe

The National Company Law Tribunal (NCLT) has requested former BharatPe managing director Ashneer Grover to establish the maintainability of his petition against actions taken by the fintech company. The tribunal heard arguments on the stake Grover holds in the company and asked for precedents regarding convertible preference shares. The case will be heard again on January 11. Grover filed the case in January, seeking relief and revocation of his wife's termination from BharatPe. The tribunal asked Grover to produce judgments showing whether preference shares should be treated as equity shares.

SEBI sends letter to Hindenburg about Adani short bet

VCCircle

VCCircle · 1y ago

SEBI sends letter to Hindenburg about Adani short bet

US-based short-seller Hindenburg Research has received a letter from India's securities regulator, SEBI, outlining potential violations in relation to its short bet against Adani Group last year. Hindenburg disclosed that it made $4.1m in gross revenue through gains related to its Adani shorts from an undisclosed investor relationship. The short-seller also accused Indian firm Kotak Bank of overseeing an offshore fund structure used by its investor partner to bet against Adani. Hindenburg described SEBI's notice as attempted intimidation, accusing the regulator of neglecting its responsibility to protect investors. Adani and Kotak Bank have not yet responded to the allegations.

Adani puts Hindenburg behind with a $3-billion fundraising plan

Livemint

Livemint · 1y ago

Adani puts Hindenburg behind with a $3-billion fundraising plan

The Adani Group is in talks with several global private equity firms and Indian banks to raise $2.5-3 billion in the next four months. Firms such as Centerbridge Partners, Pacific Capital Group, and International Holding Co. have expressed interest in investing in Adani New Industries, Adani Airport Holdings, and Adani Green Energy. The funds will be used to fast-track projects in the airport and renewable energy sectors, including the Navi Mumbai International Airport and the group's green hydrogen and solar panel manufacturing businesses. The Supreme Court ruling on the Hindenburg Research case has renewed interest in the Adani group's projects.

Hindenburg responds to SEBI on Adani show cause notice: 22 key points of defence | Mint

Livemint

Livemint · 1y ago

Hindenburg responds to SEBI on Adani show cause notice: 22 key points of defence | Mint

Hindenburg Research has responded to the show cause notice from the Securities and Exchange Board of India (SEBI) regarding its allegations against the Adani Group. Hindenburg shared the full notice, calling it a "bizarre" attempt to intimidate those who expose corruption and fraud in India. The notice accused Hindenburg of misrepresentation, but the firm defended its research and argued that SEBI has neglected its responsibility to address widespread fraud in the country. Hindenburg also clarified that it had only one investor relationship in its Adani thesis and made around $4.1 million in gross revenue from Adani shorts.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Just Months After Promotion, Open ...

Microsoft locks down a building a ...

Gaming Ban Stumps Cricket: Virat ...

Download the medial app to read full posts, comements and news.