SEBI's show cause notice to US company Hindenburg Research

New Delhi, July 02 (HS). The Securities and Exchange Board of India (SEBI) has sent a show cause notice to US financial research company Hindenburg Research. This notice has been issued on the alleged violation of betting on Adani Group shares. Adani Group was accused of stock manipulation.

Hindenburg Research has informed about receiving SEBI's notice. It has expressed displeasure over the notice. Hindenburg said that efforts are being made to silence those who expose corruption and fraud. It is noteworthy that after accusing Adani Group companies of stock manipulation, the group companies and investors suffered huge losses.