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![Kotak twist to Adani- Hindenburg drama: Here's how US short seller responded to Sebi show cause notice](https://img.etimg.com/thumb/msid-111418938,width-100,height-75,resizemode-4/news/company/corporate-trends/a-kotak-twist-to-adani-hindenburg-drama-heres-how-us-short-seller-responded-to-sebi-show-cause-notice.jpg)
Kotak twist to Adani- Hindenburg drama: Here's how US short seller responded to Sebi show cause notice
Adani Hindenburg Row: In the latest turn of events, Hindenburg revealed it received a show-cause notice from India's market regulator SEBI over alleged violations related to its bets on Adani Group stocks. Kotak Bank was also entangled in the latest developments. Previously, Hindenburg Research had accused the Adani Group of stock market manipulation and accounting fraud.
![Kotak Bank created fund used to bet against Adani: Hindenburg](https://img.etimg.com/thumb/msid-111444726,width-100,height-75,resizemode-4/markets/stocks/news/kotak-bank-created-fund-used-to-bet-against-adani-hindenburg.jpg)
Kotak Bank created fund used to bet against Adani: Hindenburg
Kotak Mahindra Bank managed funds for Adani stock trades, leading to significant profits. Despite ET queries, the bank mentioned transactions were made on a principal basis. Kingdon transferred funds for short positions on Adani stocks, resulting in gains after positions were squared off.
![Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’](https://img.etimg.com/thumb/msid-111440253,width-100,height-75,resizemode-4/markets/stocks/news/fresh-twist-hindenburg-gets-sebi-notice-for-shorting-adani-shares.jpg)
Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’
Hindenburg termed the Sebi’s notice, dated June 26, as “nonsense, concocted to serve a pre-ordained purpose, an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India”. Apart from the research firm, its founder Nathan Anderson, Mark E Kingdon, Kingdon Capital Management, Kingdon Offshore Master Fund and K- India Opportunities Fund (KIOF) - Class F, too, were served the notice.
![Kotak twist in Hindenburg-Adani Saga: Short-seller slams SEBI, Indian govt | TOP POINTS](https://img.etimg.com/thumb/msid-111437435,width-100,height-75,resizemode-4/markets/stocks/news/kotak-twist-in-hindenburg-adani-saga-short-seller-slams-sebi-indian-govt-top-points.jpg)
Kotak twist in Hindenburg-Adani Saga: Short-seller slams SEBI, Indian govt | TOP POINTS
Why did Hindenburg call SEBI's show cause notice 'nonsense', why is Kotak Mahindra Bank being dragged across the floor now? And how much money did the US short seller make from this mess? Watch!Kotak twist in Hindenburg-Adani Saga: Short-seller slams SEBI, Indian...
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SpiceJet faces contempt notice from Delhi HC for non-compliance
The Delhi High Court issued a contempt notice to SpiceJet and its executives for failing to comply with a May 27 order to return two Boeing aircraft and three engines to lessor TWC Aviation Capital. The court warned that contempt proceedings will proceed unless SpiceJet complies by July 8.
![Hindenburg faces Sebi scrutiny, Kotak Bank dragged in Adani saga](https://img.etimg.com/thumb/msid-111417573,width-100,height-75,resizemode-4/markets/stocks/news/hindenburg-gets-letter-from-sebi-about-adani-short-bet.jpg)
Hindenburg faces Sebi scrutiny, Kotak Bank dragged in Adani saga
Adani-Hindenburg Case: Hindenburg Research's disclosure of suspected violations by Sebi regarding Adani Group's short bet led to minimal gains, highlighting challenges foreign investors face under Indian securities rules. The short seller also stated that Kotak Mahindra Bank created and oversaw an offshore fund structure used by its "investor partner" to bet against the conglomerate, providing new details of trades that puzzled investors.
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MHA extends validity of FCRA registered NGOs with pending renewal application
The Union Home Ministry has extended the validity of FCRA registered NGOs with pending renewal applications until September 30. This notification impacts entities dealing with the Foreign Contribution (Regulation) Act, particularly those facing expiration of the five years validity period. Renewal guidelines are crucial for maintaining eligibility to receive and utilize foreign contributions.
ICICI Prudential and HDFC Life get GST notices
ICICI Prudential Life Insurance has received a GST notice amounting to Rs. 365 crore, including interest, from the GST authority. The notice demands GST along with applicable interest and penalties for the fiscal years 2017-18 to 2022-23 across all GST-registered states. This pertains to amounts recovered from insurance agents as per commercial terms, which the department alleges should have been deposited as GST.
NHRC notice to UP DGP over brothers' suicide
The NHRC has taken suo motu cognisance of a media report carried on June 25 that "two brothers of Agra committed suicide within three days due to alleged harassment by police personnel of Sadabad police station in Hathras", the human rights panel said in a statement.
Adani CFO says Sebi notices procedural
The conglomerate faces Sebi notices, financial scrutiny, and market challenges but remains compliant and poised for a strategic rebound from recent setbacks.
YSRCP district offices receive notices on legitimacy of their construction
YSRCP faces backlash over unauthorized office constructions, with the NDA government accused of bias. The controversy involves lavish buildings, including a Rs 500-crore mansion, as security scrutiny intensifies at YS Jagan Mohan Reddy's residences across multiple districts.
Less than 2% assessees under CGST gets notice, working to make taxpayers life easier: FM Sitharaman
Addressing the media post the GST Council meeting, the Minister said as of December 31, 2023, only 1.96 per cent of all active tax assessees have been sent notices from the Central GST (CGST). Around 1.14 lakh assessees have been sent notices by the CGST out of total 58.62 lakh assessees.
Assam govt to hold consultation with business community over GST notices
Assam government to hold regional consultations to address business community's GST notice fears. Cabinet approves SOP for aiding youth clubs in each Legislative Assembly Constituency with Rs 15 lakh fund, focusing on infrastructure development.
Retro tax demand on online gaming companies may be quashed
As per the recommendation tax notices in cases where the lower tax was paid due to interpretation of law or lack of clarity can be quashed, people familiar with the development said. The law committee has suggested amendment to the Central Goods and Services Tax (CGST) Act, 2017 via the introduction of a new Section 11A in the legislation.
Rahul Gandhi, Aaditya Thackeray should apologise for remarks based on news report over EVMs: Sanjay Nirupam
Shiv Sena leader Sanjay Nirupam called for apologies from Rahul Gandhi and Aaditya Thackeray for spreading misinformation about EVM tampering based on a news report. The report alleged a relative of Shiv Sena candidate used a mobile phone to tamper with an EVM, which was dismissed as false by the returning officer. Nirupam demanded accountability from opposition leaders for amplifying the misinformation and expressed concerns over doubts raised about EVM tampering.
Raveena Tandon sends defamation notice to man for 'fake' road rage video
The man had also claimed the incident took place when his mother, sister and niece were near the actor's home here
BMC says not appropriate to issue stop work notice to Godrej Properties’ Kandivali project
The Municipal Corporation of Greater Mumbai (MCGM) has decided against issuing a stop work notice to Godrej Properties’ ongoing residential project in the Kandivali suburb of Mumbai as suggested by the defence ministry’s Central Ordnance Depot (COD).
Curb on unfair GST demand recovery proceedings: GST official needs prior approval from higher authority to act within 3 months of demand
GST demand order: If you have received a GST demand order, you can either it pay it or file an appeal against it. However if GST officials believe that it is necessary to ask for early payment of the demand before the stipulated time period they can do so. However they need to give a justifiable reason to do so.
Lok Sabha Speaker's election on Jun 26; candidates can be proposed till Jun 25 noon
The Lok Sabha will elect its new Speaker on June 26, with notices for motions supporting candidates to be submitted by June 25. President Droupadi Murmu will address a joint sitting of Lok Sabha and Rajya Sabha on June 27.
Amit Malviya sends notice to lawyer for making 'defamatory allegations'; Congress seeks probe
Amit Malviya, the head of the BJP IT department, has sent a legal notice to a Kolkata-based lawyer, Santanu Sinha, for making "false and defamatory allegations" against him. Malviya has demanded an apology and the removal of the allegedly defamatory statement. The Congress has demanded Malviya's removal from his post over allegations of "sexual exploitation" and called for an independent inquiry. Sinha, however, has stated that his Facebook post, which led to the legal notice, was not directed at anyone specific and was misconstrued.
Paying rent in cash without a rent receipt? Know why your HRA claim may be rejected, and you may get an income tax notice
House rent allowance: Tenants will get into trouble with the income tax department if they are paying rent in cash and the landlord does not offer it for income tax. For every claim of HRA there should be a corresponding income offerred for tax. Read here to know how a tenant got into trouble because of this.
Food safety violations at Blinkit warehouse: Telangana authority to issue notice
Several products in the Blinkit warehouse were found to have expired and were seized, Telangana's Commissioner of Food Safety said on Thursday. The raid found that cosmetic products were stored with food items and that the licence of Congruence Trade and Services Pvt Ltd – one of the manufacturers of Whole Farm brand – was not as per the Food Safety and Standards Act.
IATA boss warns foreign airlines may quit India if taxation issues are not sorted
The chief of the International Air Transport Association (IATA), Wille Walsh, warned that airlines may withdraw from the Indian market if concerns over taxation are not addressed. Several global airline groups including Emirates, British Airways, Lufthansa, Singapore Airlines, and others have received tax evasion notices from the Directorate General of GST Intelligence (DGGI). The notices were related to non-payment of tax on services provided by the airlines to their Indian entities.
Action to follow after 10-day deadline for response to notice expires: MEA on cancellation of Prajwal's diplomatic passport
Suspended JD(U) MP Prajwal Revanna, accused of sexually assaulting multiple women, must respond to a show-cause notice from the Ministry of External Affairs (MEA) by June 2 regarding the revocation of his diplomatic passport. The MEA issued the notice on May 23, following a request from the Karnataka government amid sexual abuse allegations. Revanna, currently in Germany, is expected to return to India on May 31. An arrest warrant and an Interpol Blue Corner Notice have been issued against him. His father, H D Revanna, also faces related charges but is out on bail.
Prajwal Revanna will be arrested at Airport upon his return: Karnataka Home Minister
The statement comes two days after Prajwal released a video statement promising that he would appear before the Special Investigation Team (SIT), probing the cases against him, on May 31.
Next procedure to bring Prajwal Revanna back will start if he doesn't turn up on May 31: Karnataka Minister
Karnataka Home Minister G Parameshwara indicated that procedures to bring back Hassan MP Prajwal Revanna from abroad will proceed if he does not return by May 31. Prajwal, facing charges of sexually abusing several women, released a video promising to cooperate with the Special Investigation Team (SIT). Parameshwara mentioned that efforts, including a Blue Corner Notice and an arrest warrant, have been made to bring Prajwal back.
Yuvraj Singh sends notices to real estate firms for infringement of privacy, delayed home possession
According to the notice, the cricketer had booked a dwelling unit in 2020 at Hauz Khas, New Delhi in one of the projects of a real estate firm. M/s Brilliant Etoile Private Limited and M/s Uppal Housing Private Limited are the noticees in one of the legal notices pertaining to the delayed possession of the dwelling units.
Haryana Schools Summer Vacation to start from May 28 due to rising temperature
Haryana government has advanced summer vacation dates for schools due to scorching heat, with temperatures soaring to 46 degrees Celsius. Schools will be closed from May 28 to June 30, reopening on July 1. A red warning has been issued for Rajasthan, Punjab, Haryana, Chandigarh, Delhi, west Uttar Pradesh, and Gujarat, indicating a "very high likelihood" of heat illness and heat stroke for all age groups.
Third Eye: Missing from scene during polls, on 'educational' campaign trail and, enter 'tana tana tan' and 'safachat safachat'
Jharkhand BJP issued a show cause notice to Hazaribagh MP Jayant Sinha for not campaigning or voting. Sinha, denied a party ticket, explained he voted via postal ballot.
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