The regulator has called a wrap on its probe into the post-Hindenburg market mayhem. In the process, is it taking the easy way out and doing more harm than good?
The Securities and Exchange Board of India is basking in the glory of a job done well. And quickly.
On 27 June, SEBI issued a show-cause notice to US-based Hindenburg Research, its founder Nathan Anderson and four others, accusing them of fraud. The regulator said that all of them were guilty of violating several of its rules and, as a consequence, liable to give back the profits they made from their questionable trades.
Earlier, between January and March, it sent notices to seven Adani group companies, asking them why they shouldn’t be held guilty for non-disclosure of related party transactions …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai