Adani Energy Solutions, part of the embattled Adani conglomerate, received a show-cause notice from SEBI this week. The notice alleges wrongful categorization of investors under minimum shareholding norms, adding to the ongoing scrutiny faced by the group following Hindenburg’s allegations. The news has further impacted Adani Energy Solutions’ share price, which has declined for the fifth consecutive day.
Hindenburg Research has released a new report alleging that SEBI chairperson Madhabi Puri Buch and her husband have investments in the same offshore funds used by Vinod Adani, the brother of Gautam Adani. This has prompted calls for a joint parliamentary committee (JPC) investigation into the Adani Group. The report follows last year’s accusations by Hindenburg regarding the Adani Group’s alleged stock market manipulation and insider trading.
