Securities and Exchange Board of India has issued a notice to Hindenburg Research LLC, Nathan Anderson, and the entities of Mauritius-based foreign portfolio investor Mark Kingdon for trading violations in the scrip of Adani Enterprises Ltd.
In the 46-page show-cause notice, the markets regulator has alleged that Hindenburg and Anderson violated regulations under the SEBI Act. The markets regulator pointed out that the Hindenburg and the FPI entities undertook a misleading disclaimer that the report was solely for the valuation of securities traded outside India when it pertained to listed entities in India.
