SEBI sends notice to Hindenburg for shorting Adani Shares, Kotak bank involved ?

Hindenburg research on Tuesday said that it has received a show cause notice by the Securities and Exchange Bureau of India for allegedly shorting Adani shares before and after it revealed its research report on Adani. The notice was not only served to Hindenburg but to its founder Nathan Anderson, Mark E Kingston of Kingston Capital, Kingston Offshore Master Fund and K-India Opportunities Fund. 

After which Hindenburg research said “ nonsense concocted to serve a preordinate purpose and attempt to silence and intermediate those who expose corruption and fraud perpetrated by the most powerful individuals in India” and also mentioned that “K” in K-india opportunities fund is Kotak Mahindra bank. 

After SEBI said Hindenburg allegedly enabled Kingdon Capital to set up a fund to create short positions in Adani stocks.The US company said Kotak Mahindra Bank had created and managed the offshore fund structure used by one of its investor partners for trades.