Senior Lawyer Points To 'China Link' In Hindenburg's Attack On Adani Group
NDTV
Earlier this week, the Securities and Exchange Board of India (SEBI) had said that foreign portfolio investor Kingdon Capital Management LLC and its entities aided Hindenburg in indirectly participating in Adani Enterprises Ltd.
In a stunning claim that he has called a "smoking gun", senior lawyer Mahesh Jethmalani has alleged that a businessman with Chinese links had commissioned the report by short-seller Hindenburg Research which led to shares of Adani Group companies taking a hit.
Earlier this week, the Securities and Exchange Board of India (SEBI) had said that foreign portfolio investor Kingdon Capital Management LLC and its entities aided Hindenburg in indirectly participating in Adani Enterprises Ltd. An investigation by the markets regulator also exposed that Kotak Mahindra and Hindenburg conspired together to take short positions in Adani shares.
In a lengthy post on X, Mr Jethmalani said Mark Kingdon, the American businessman behind Kingdon Capital Management LLC, had hired Hindenburg to prepare a report on the Adani Group. Mr Kingdon also approached Kotak's international investment arm Kotak Mahindra Investments Limited (KMIL) to set up an offshore fund as well as offshore accounts to trade in Adani shares. This led to the creation of the Kotak India Opportunity Fund (KIOF).
