Hindenburg's Allegations
Accused Adani Group of corporate malfeasance, stock price manipulation, and breach of public shareholding norms.
Claimed that SEBI is reluctant to investigate due to a conflict of interest involving the SEBI chairperson.
SEBI's Response
SEBI chairperson and spouse denied any conflict of interest, stating investments were made before her appointment.
Investment in the flagged fund was minimal and unrelated to Adani Group.
SEBI has completed most investigations into Adani Group, with the final one nearing completion.
Adani Group's Response
Maintained transparency in overseas holdings.
Disclosed previous connections between fund managers and Adani Group.
New Allegations and Questions
Hindenburg raised new questions about the SEBI chairperson's consulting firms and potential conflicts of interest.
SEBI's handling of a specific case involving Blackstone and Essel Propack has been questioned.
Media reports suggest potential breaches of SEBI's conflict of interest policy by the chairperson.
Implications and Next Steps
Supreme Court has expressed confidence in SEBI's investigation but has the power to intervene if necessary.
SEBI's credibility is at stake, and transparent and timely actions are crucial.
Public scrutiny and media attention will likely continue until the matter is resolved.
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