The Securities and Exchange Board of India (SEBI) has issued a "show cause" notice to Hindenburg, accusing the short-seller's report of containing misleading information to deceive its audience. Hindenburg has refuted these allegations, criticizing SEBI for seemingly doing more to protect those "perpetrating fraud" rather than protecting the investors.
The reports indicate that Kotak Bank's involvement in the Hindenburg-Adani saga has added a new twist to the ongoing controversy. Hindenburg's disclosure of Kotak Bank's alleged role in facilitating its short trades against Adani has raised questions about financial regulation, transparency, and the role of Indian institutions in such high-profile market events.
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