Hindenburg Alleges Conflict of Interest in India Regulators Adani Probe, Adani Stocks Fall

Hindenburg Research alleges that India`s market regulator, Sebi, has conflicts of interest due to investments made by chairperson Madhabi Puri Buch and her husband in entities linked to Adani Group before her Sebi tenure. This accusation caused Adani stocks to drop, though the market later stabilized. Hindenburg claims these investments raise concerns about Sebi`s investigation into prior fraud allegations against Adani, which the regulator denies. This escalation follows Hindenburg`s earlier report that significantly impacted Adani`s market value and led to a court-ordered probe. While Sebi hasn`t filed charges against Adani, the accusations could affect investor confidence and the conglomerate`s fundraising efforts.