CNBC: Adani Group shares nosedive after chairman Gautam Adani charged with fraud in New York
CNBC reports: India’s Adani Group saw shares of its companies plunge Thursday after its billionaire chairman Gautam ...
ID 43261008
© Toa555
| Dreamstime.com
CNBC reports:
No one is questioning India’s sovereignty, as the world’s largest democracy marks 77 years of independence from British colonial rule today.
But — in a topic more suited to this newsletter — some investors have this week been querying whether India’s markets watchdog is independent as it performs its regulatory duties.
The Securities and Exchange Board of India (SEBI), equivalent to the U.S. Securities and Exchange Commission, was the subject of short-seller Hindenburg Research’s latest attack this week. The U.S.-based hedge fund that bet against Adani group companies in early 2023 has now accused the head of the SEBI, Madhabi Puri Buch, of having a financial interest in one of the parties her agency was investigating…
To read the full post, please click here.
Comment on this article