ED, Sebi probing the role of six short sellers in Adani group stocks

Hindenburg had taken position on Adani overseas listed securities

Dev Chatterjee Mumbai
Probe, Fraud, Investigation

Illustration: Binay Sinha

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A Supreme Court-appointed committee has said market regulator Sebi and the Enforcement Directorate have found evidence of short selling and profiting following the Hindenburg Research report publication on January 24 and are investigating the role of six entities which indulged in short selling.
“The Enforcement Directorate has found intelligence about potentially violative and concerted selling by specific parties just ahead of the publication of the Hindenburg Report, and this may have led to credible charges of concerted destabilisation of the Indian markets. Sebi ought to be probing such actions under securities laws,” the report said.
The report said Sebi found out some entities had taken short positions prior to the Hindenburg Report and profited when the price crashed after Hindenburg published the report. According to Sebi, suspicious trading has been observed on the part of six entities which includes four FPIs, one body co

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First Published: May 19 2023 | 5:27 PM IST

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