The show cause notice alleged that hedge funds of Hindenburg, Kingdon and a broker linked to Kotak Mahindra Bank benefited from a decline of more than $150 billion in the market value of 10 listed Adani Group firms after the publication of the report.
The market regulator has accused Hindenburg of making "unfair" profits through collusion, using non-public and misleading information to create panic in Adani Group shares.
Last week, senior lawyer Mahesh Jethmalani had alleged that a businessman with Chinese links had commissioned the Hindenburg Research report, which led to losses in shares of Adani group companies.
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Sebi has issued show cause notices to units of Hindenburg Research, Nathan Anderson and Mauritius-based foreign portfolio investor (FPI) Kingdon for trading violations in Adani Enterprises Ltd shares following the Hindenburg report and its aftermath.
The market regulator's investigation also revealed that Kotak Mahindra and Hindenburg had conspired together to take short positions in Adani shares.
Kotak Mahindra Bank unit Kotak Mahindra (International) Ltd said Hindenburg was never a client of the group's K-India Opportunities Fund (KIOF) and Kotak Mahindra International Ltd (KMIL).
The market regulator has accused Hindenburg of making "unfair" profits through collusion, using non-public and misleading information to create panic in Adani Group shares.
Last week, senior lawyer Mahesh Jethmalani had alleged that a businessman with Chinese links had commissioned the Hindenburg Research report, which led to losses in shares of Adani group companies.
social media platform
Sebi has issued show cause notices to units of Hindenburg Research, Nathan Anderson and Mauritius-based foreign portfolio investor (FPI) Kingdon for trading violations in Adani Enterprises Ltd shares following the Hindenburg report and its aftermath.
The market regulator's investigation also revealed that Kotak Mahindra and Hindenburg had conspired together to take short positions in Adani shares.
Kotak Mahindra Bank unit Kotak Mahindra (International) Ltd said Hindenburg was never a client of the group's K-India Opportunities Fund (KIOF) and Kotak Mahindra International Ltd (KMIL).
