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Hindenburg Research has refuted claims of being under investigation by the US SEC following allegations of its founder, Nate Anderson, having ties with Anson hedge fund.

Hindenburg says not under investigation by US SEC

Hindenburg Research has refuted claims of being under investigation by the US SEC following allegations of its founder, Nate Anderson, having ties with Anson hedge fund.

US short-seller Hindenburg Research has said it is not under investigation by the US SEC as it rubbished alleged links of its founder to a hedge fund for preparing reports targeting companies.
"Hindenburg is not under investigation by the SEC, to our knowledge, and any suggestion to the contrary is false," the firm said after a Canadian portal cited documents filed before a court in Ontario to allege that its founder Nate Anderson was under cloud for alleged links with hedge funds.
Citing a cache of documents filed at the Ontario Superior Court of Justice in a complex defamation lawsuit, the Market Frauds portal said the head of Canada's Anson hedge fund, Moez Kassam admitted his firm has shared research "with a wide variety of sources" including Hindenburg's Nate Anderson.
Hindenburg colluded with Anson while preparing a report.
The preparation of bearish reports without disclosure of participation can be charged as securities fraud by the US Securities and Exchange Commission .
Hindenburg said the report "is largely based on an anonymous Tongan blog that is rife with factual errors, wild theorizing, and demonstrates a complete lack of understanding of US law" and that it was "irresponsible" to "syndicate such rumours".
While short sellers borrow security, sell it on the open market, and expect to repurchase it for less money after their damning report against the company brings stock down, involvement of hedge funds raises eyebrows as they could also place parallel bets, putting more downward pressure on stock prices.
"We know for a fact, from the email conversations between Anderson and Anson Funds, that he was indeed working for Anson and published whatever they told him to, from the price target to what should and shouldn&rsquo;t be in the report. He asked them multiple times if they needed 'more'. From what we can see in the dozens of exchanges, at no time did he have editorial control. He was being told what to publish," the website claimed.
Market Frauds also shared screenshots of some email interactions - which it claims to have accessed through the documents available with the Ontario court - between Hindenburg and Anson to support its charge.
"There are multiple counts of securities fraud for both Anson Funds and Nate Anderson, and we have only gone through 5% of what&rsquo;s in there as of the time of writing," it said, adding "From what we have read so far, it is almost a certainty that when the whole exchange between Hindenburg and Anson reaches the SEC, Nate Anderson will be charged with securities fraud in 2025."
When the association first emerged, Anderson had in a post on X stated that Hindenburg "routinely get leads from all walks of life; including industry experts, analysts, investors, etc. Throughout our history, we independently vet any lead and always have full editorial control."
In 2020, Hindenburg Research published a report on Facedrive, a Canadian company that went public through a reverse merger as an eco-friendly ride-sharing service, chiding it for being overvalued and lavishly paying promoters. Anson allegedly exchanged emails with Anderson over the report and court documents reveal the hedge fund had knowledge of when the report was to be published.
The filings follow a separate years-long investigation by the US Justice Department and the Securities and Exchange Commission. In June, Anson Funds Management and Anson Advisors Inc, without admitting or denying any wrongdoing, agreed to pay USD 2.25 million to settle SEC claims that they failed to tell clients about payments to outside publishers of bearish research.
Last week, Anderson announced the shutting down of Hindenburg Research, which made headlines globally in 2023 after publishing explosive reports about billionaire Gautam Adani's conglomerate, sparking political rows and major losses for the company.
He didn't share a specific reason for his decision but expressed a desire to spend more time with friends and family in the future.
"Nearly 100 individuals have been charged civilly or criminally by regulators at least in part through our work, including billionaires and oligarchs. We shook some empires that we felt needed shaking," he wrote announcing the decision.

Congress flags 'Modani' ties post-Hindenburg halt, highlighting unresolved probes and corruption, urging a Joint Parliamentary Committee inquiry.

Hindenburg Shuts Down: No clean chit for ‘Modani’, says Congress

After Hindenburg's closure, Congress highlights alleged ties between Modi and Adani, citing unresolved corruption probes and demanding a Joint Parliamentary Committee investigation.

Congress alleges 'Modani' Scam, calls for JPC probe into Adani Group controversies

Congress insists the Adani-Modani nexus needs deeper investigation, highlighting Hindenburg's report on Adani Group and alleging misuse of foreign policy, SEBI, and institutions. They demand a Joint Parliamentary Committee probe into the matter.

The Congress party asserted on Friday that the closure of Hindenburg Research does not absolve the alleged nexus between Prime Minister Narendra Modi and the Adani Group, a relationship they have dubbed "Modani."
Hindenburg, the U.S.-based investment research firm known for short-selling, which previously published reports causing significant financial losses for billionaire Gautam Adani and his companies, has shut down, as announced by its founder, Nate Anderson, on Wednesday.
In a statement, Congress highlighted the significance of the January 2023 Hindenburg report, which prompted the Supreme Court of India to establish an Expert Committee to investigate allegations against the Adani Group. "The Hindenburg report addressed only a fraction of the extensive 'Modani MegaScam,' focusing primarily on securities law violations," the statement noted. Congress claimed that out of the 100 questions posed to the Prime Minister regarding the Adani scandal, only 21 were related to Hindenburg's revelations. 
<blockquote class="twitter-tweet">
हिंडनबर्ग रिसर्च के बंद होने का यह मतलब नहीं है कि 'मोदानी' को क्लीन चिट मिल गई है। जनवरी 2023 में आई हिंडनबर्ग रिपोर्ट इतनी गंभीर साबित हुई थी कि भारत के सर्वोच्च न्यायालय को उसमें अडानी ग्रुप के खिलाफ़ सामने आए आरोपों की जांच के लिए एक विशेषज्ञ समिति का गठन करने के लिए मजबूर&hellip; <a href="https://t.co/CUOfduldqK">pic.twitter.com/CUOfduldqK</a>
&mdash; Congress (@INCIndia) <a href="https://twitter.com/INCIndia/status/1879808184619340144?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
&nbsp;
&nbsp;
The party accused the Modi government of leveraging foreign policy to benefit the Adani Group, manipulating investigative agencies, and compromising Indian institutions like SEBI. Congress also criticized the prolonged SEBI investigation, which remains unresolved nearly two years after the Supreme Court's directive.
Also Read: <a href="https://www.editorji.com/business-news/hindenburg-research-the-us-based-short-seller-behind-adani-report-to-shut-down-1737005874632" target="_blank">Hindenburg Research, the US-based short seller behind Adani report, to shut down</a>
The statement referenced U.S. allegations against the Adani Group, including bribery for solar power contracts and money laundering suspicions leading to frozen bank accounts by Swiss authorities. Congress further alleged significant over-invoicing of coal imports from Indonesia, resulting in inflated electricity prices in Gujarat and large sums being siphoned through shell companies.
Congress called for a Joint Parliamentary Committee (JPC) investigation, emphasizing the need for accountability and criticizing the Indian state institutions for allegedly protecting the powerful while ignoring the plight of the common people.&nbsp;

Nate Anderson, founder of the US-based short-seller firm Hindenburg Research, has announced the closure of operations. Anderson clarified that the decision was not prompted by external threats, health issues, or personal matters.

Hindenburg Research, the US-based short seller behind Adani report, to shut down

Nate Anderson, founder of the US-based short-seller firm Hindenburg Research, has announced the closure of operations. Anderson clarified that the decision was not prompted by external threats, health issues, or personal matters.

Nate Anderson, the founder of the US-based short-selling firm Hindenburg Research, announced on Thursday his decision to close down the operations of the investigative firm.
<a href="https://hindenburgresearch.com/gratitude/" target="_blank">In an official statement</a>, Anderson explained that the closure was not due to external pressures, personal health concerns, or significant problems but rather his desire to step away from the demanding nature of his work and shift focus to other life aspects. He stated, "As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research."
Anderson further clarified, "So, why disband now? There is not one specific thing&mdash;no particular threat, no health issue, and no big personal issue." Reflecting on the challenges he faced throughout his journey, Anderson acknowledged the financial difficulties, legal battles, and moments of self-doubt. He remarked, "I had no money when I started&mdash;and after catching 3 lawsuits immediately out of the gate, I quickly had less than no money."
Looking ahead, Anderson plans to open-source the investigative techniques used by his firm to inspire others in uncovering fraud. Over the next six months, he intends to create materials and videos detailing the methodologies that made Hindenburg Research successful. Although his future plans remain uncertain, he expressed deep gratitude to his team, family, and supporters.
In January 2023, Hindenburg Research made headlines by publishing a report accusing the Adani Group of financial irregularities, resulting in a substantial drop in the company&rsquo;s stock price. The Adani Group swiftly dismissed the allegations. Addressing the issue at the Adani Enterprises Annual General Meeting (AGM) in June, Group Chairman Gautam Adani stated, "We were faced with baseless accusations made by a foreign short seller, that questioned our decades of hard work." He added, "In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your Group has been established."

After Hindenburg's report on Jack Dorsey's Block Inc., the billionaires wealth plunged by $526 million on Thursday

Hindenburg report impact: Dorsey's wealth tumbles $526 million

After Hindenburg's report on Jack Dorsey's Block Inc., the billionaires wealth plunged by $526 million on Thursday

After the Hindenburg report on Block Inc., its co-founder Jack Dorsey's wealth plunged by $526 million on Thursday. This is his worst single day decline since May. According to the Bloomberg Billionaires Index the billionaire is now worth $4.4 billion.&nbsp;
Hindenburg released a report on Thursday claiming Block had inflated user metrics, and that the stock has downside of 65% to 75% &ldquo;on a purely fundamental basis.&rdquo; Following the report, Block fell as much as 22% before closing down at 15% on Thursday.&nbsp;
As per Business Standard, Block Inc. has denied the allegations and said that it plans to explore legal action against the short-seller.
Hindenburg's report on Gautam Adani early this year, had sent a tumultuous wave across the Indian market.&nbsp;

In the wake of the Adani-Hindenburg controversy, Gautam Adani falls further on the Forbes rich list, down to the 38th spot form the 3rd spot before the Hindenburg report released. 

Gautam Adani falls to 38th spot on world's richest list 

Gautam Adani falls to 38th position on the Forbes rich list 

In the wake of the Adani-Hindenburg controversy, Gautam Adani falls further on the Forbes rich list, down to the 38th spot form the 3rd spot before the Hindenburg report released.&nbsp;

Gautam Adani has now fallen to the 38th spot on the Forbes rich list. This, after he was on the 3rd spot before the scathing Hindenburg report was released.&nbsp;
Currently, Adani's net worth is estimated at $33.4 billion, according to Forbes, which is an erosion of over $85 billion from $119 billion before the report was published on January 24. On 24th January, U.S based short seller, Hindenburg released a report accusing Adani group of accounting fraud and stock price manipulation. Allegations which the Adani group has strongly denied. However, since then the Adani group's market cap has seen a massive erosion of over $100 billion.&nbsp; 
&nbsp;

Adani group hires Grant Thornton to conduct an independent audit for some of its companies. Meanwhile, SEBI tell the top court, that it is probing allegations made by the Hindenburg group 

Adani row: Grant Thornton to conduct independent audit; SEBI probe on

Adani group hires Grant Thornton to conduct an independent audit for some of its companies. Meanwhile, SEBI tell the top court, that it is probing allegations made by the Hindenburg group&nbsp;

Its been three weeks now since the Adani group has been battling the impact of the scathing Hindenburg research report. Even as the group has been taking several measures to restore investor confidence, the stocks have been witnessing massive volatility.
As per a Reuters report, the Adani group has now hired accountancy firm Grant Thornton for conducting an independent audit for some of its companies, in a bid to discredit the claims of the Hindenburg report. The report made a slew of allegations including corporate governance malpractices and stock price manipulations. Allegations, which the Adani group has strongly denied.
Meanwhile, in another development, capital markets regulator SEBI has said that it is probing the allegation made by Hindenburg group. In a submission to the top court, SEBI said it was examining the allegations and their impact on the market. As per a Business standard report, SEBI&rsquo;s submission note says that it was enquiring into market activities immediately &ldquo;preceding and post the publication of the report&rdquo;, to detect if there were any regulatory violations. A mint report says that the markets regulator will also brief the Finance Minister on surveillance measures taken during the recent rout in the Adani group companies. SEBI is scheduled to meet FM Sitharaman on the 15th of Feburary. Earlier, on the Supreme Court&rsquo;s suggestion, the central govt agreed to form an expert panel to ensure that market investors are protected. Since the 24th of January, the Adani group&rsquo;s market capitalisation has eroded by over $100 billion.

AAP workers in Punjab gathered to round up BJP office in Chandigarh to register their protest. To prevent the protesters from reaching the BJP office police has raised barricades in different places

Adani-Hindenburg row: AAP protesters dispersed in Chandigarh 

AAP workers in Punjab gathered to round up BJP office in Chandigarh to register their protest. To prevent the protesters from reaching the BJP office police has raised barricades in different places

The Chandigarh Police on Sunday used water cannon to prevent AAP workers from moving towards the BJP office here as part of their protest against the Centre over the Adani issue.
Aam Aadmi Party workers, gathered from various parts of Punjab, wanted to "gherao" the office of the Punjab BJP in Sector 37 here to register their protest against the party-led central government.
Barricades were put up and a heavy deployment of police was made to prevent the protesters from heading towards the Punjab BJP office.
Police used a water cannon when AAP workers tried to force their way towards the BJP office, said officials.
Carrying party flags, AAP workers shouted slogans against the BJP government over the Adani issue.
AAP MLA from the Jalalabad constituency Jagdeep Kamboj slammed the BJP alleging that it has failed on all fronts.
Later, police detained several party leaders and workers.
Earlier speaking to reporters at the party office, AAP leader Harchand Singh Barsat alleged that the Adani Group's fortunes rose under the BJP rule.
Also watch: <a href="https://www.editorji.com/world-news/pakistan-must-set-its-house-in-order-experts-on-its-economic-crisis-1676196529270">Pakistan must set its house in order: experts on its economic crisis</a>
Another AAP leader, Sunny Ahluwalia, said the party will continue to raise its voice over this issue.
Adani Group stocks had taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group, which has dismissed the allegations as lies.
Opposition parties have been demanding a joint parliamentary committee probe into the issue.&nbsp;
inputs from PTI

In another blow to the Adani group, Moody's investors service changed the outlook of 4 Adani group entities to 'negative' from 'stable'. 
 

Adani Crisis: Moody's cuts outlook of 4 Adani group entities to 'negative'

In another blow to the Adani group, Moody's investors service changed the outlook of 4 Adani group entities to 'negative' from 'stable'. 




In another blow to the Adani group, Moody's investors service changed the outlook of 4 Adani group entities to 'negative' from 'stable'.&nbsp;
&nbsp;

Moody's Investors Service has changed the outlook for 4 of Adani group entities from stable to negative. However, Moody's has affirmed its rating on 8 Adani group companies.
The outlook has been changed to 'negative' for Adani Green Energy, Adani Green Energy Restricted Group, Adani Transmission Step-one Adani Electricity Mumbai Ltd&nbsp; Moody's said that the negative outlook for Adani green factors in the company's significant refinancing needs of around $2.7 billion by March 2025 and limited headroom to manage any material increase in funding costs.
The change in outlook comes on the back of a rapid decline in the stock value of the Adani Group companies post the release of the Hindenburg research report which made a slew of allegations including stock price manipulation and corporate governance issues within the group. The Adani group has strongly denied the allegations in a 400 page response to the report.&nbsp;

Latest development in the battle between the Adani group and Hindenburg research is that the former has hired U.S legal firm Wachtell, Lipton, Rosen and Katz, which is one of the most expensive law firms in the U.S. 

Adani Vs Hindenburg: Adani group hires U.S based law firm 

Latest development in the battle between the Adani group and Hindenburg research is that the former has hired U.S legal firm Wachtell, Lipton, Rosen and Katz, which is one of the most expensive law firms in the U.S.&nbsp;

Adani group has hired a U.S based law firm, Wachtell in its battle against Hindenburg Research.&nbsp;
According to a Financial Times report, senior lawyers at the law firm will advise it on how to step the crisis facing the conglomerate since Hindenburg accused it of accounting fraud and stock price manipulation. Accusations which Adani group completely denied in a 400 page rebuttal, calling them baseless and discredited. However, since Hindenburg's report came out, the Adani group has seen a massive erosion in market capitalisation.&nbsp;
As per the Financial Times, ''Wachtell, Lipton, Rosen and Katz, is one of the most expensive law firms in the U.S and has been one of the most sought after advisors by besieged corporate boards at some of the largest US companies trying to fend off activist investors or hostile takeovers.''
Meanwhile, MSCI said that that they would reduce the amount of freely tradable shares of the group, with a cut in the weightings of 4 Adani stocks. In addition to Adani enterprises, MSCI will also reduce the weighting of Adani Total Gas and Adani transmission. These changes will be effective 28th of February. This development led to another fall in the Adani group stocks.&nbsp;
&nbsp;

NSE which is India's largest stock exchange had announced the move on February 2.

NSE places Adani Enterprises, Adani Ports and Ambuja under additional surveillance

NSE which is India's largest stock exchange had announced the move on February 2.

Adani Group companies namely Adani Enterprises, Adani Ports and Ambuja Cements will be place under short-term additional surveillance of the National Stock Exhcange (NSE) starting February 6.
NSE which is India's largest stock exchange had announced the move on February 2.
The surveillance measures were imposed after shares of several Adani Group companies plunged following a report by New York-based Hindenburg Research.
Also watch: <a href="https://www.editorji.com/india-news/politics/adani-row-parliament-adjourned-for-the-day-without-any-work-as-opposition-continues-protest-1675676571623">Adani row: Parliament adjourned for the day without any work as Opposition continues protest</a>
&nbsp;

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

LIC issues statement amid concerns over exposure to Adani group

LIC gives statement amid concerns over exposure to Adani grp cos

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

Amid concerns in certain quarters over LIC's exposure to Adani group companies, the insurer has said that it strictly follows the statutory framework and regulations while making investments.
Last week, state-owned Life Insurance Corporation (LIC) said it has investments of Rs 35,917.31 crore in Adani group's debt and equity securities. The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore.
The total value of equity, purchased over the last many years, of all the Adani group companies, is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023, was Rs 56,142 crore, as per LIC.
Stocks of the Adani group companies have taken a beating, losing billions of dollars in market value, after US-based short-seller Hindenburg Research in a report dated January 24 made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. Adani group completely denied the allegations calling them 'malicious' and 'basless'.&nbsp;

Kotak said large Indian corporates rely more on global sources for debt and equity finance, which creates challenges and vulnerabilities.

Don't see systemic risk to financial system: Uday Kotak on Adani-Hindenburg row

Uday Kotak said large Indian corporates rely more on global sources for debt and equity finance, which creates challenges and vulnerabilities.

Amid the growing concerns and sell-off of Adani group stocks after the Hindenburg report, Kotak Mahindra Bank CEO Uday Kotak on Sunday said he does not see any systemic risk to the financial system but it's time to strengthen Indian underwriting and capacity building.
Kotak said large Indian corporates rely more on global sources for debt and equity finance, which creates challenges and vulnerabilities.
Amid concerns over banks' exposure to the crisis-ridden Adani Group, the Reserve Bank on February 3 issued a statement saying that India's banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders.
US-based short-seller Hindenburg Research made a litany of allegations in a January 24 report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
Also watch: <a href="https://www.editorji.com/business-news/rbi-likely-to-settle-for-25-basis-points-repo-rate-hike-this-time-experts-1675664225740">RBI likely to settle for 25 basis points repo rate hike this time: experts</a>
The Hindenburg report was released on the day when Adani Enterprises' Rs 20,000-crore follow on public offer (FPO) opened for anchor investors. Though the offer was fully subscribed, Adani Group decided to scrap the FPO.
Following the report, Adani Group stocks are witnessing a meltdown on the bourses and the stock price of Adani Enterprises fell by over 70 per cent from its peak of Rs 4,190 in December, last year.
Since January 24, the BSE Sensex has slumped by over 1,000 points largely driven by sell-off in Adani Group stocks.
(with PTI inputs)

The Minister added that two principal organisations LIC and State Bank, have both come out with details on the matter and have already clarified that their money is absolutely secured and safe.

Adani row: Indian regulators very competent to handle the situation, says Piyush Goyal

The Minister added that two principal organisations LIC and State Bank, have both come out with details on the matter and have already clarified that their money is absolutely secured and safe.

Union Minister for Commerce and Industry Piyush Goyal on Saturday said regulators are very competent to handle the situation and will take appropriate action, regarding the allegations of fraud against billionaire Gautam Adani's companies that triggered an unprecedented stock crash.
He also termed the opposition stalling the Parliament's proceedings on the issue as "unfortunate".
"The regulators in India are very competent and our financial markets are amongst the most respected and well regulated markets in the world. As regards the loss, that's the share market's valuation loss, not the loss of any individual or people's wealth," Goyal told reporters here.
Responding to the opposition's criticism that the government is shying away from discussion on the Adani issue, and about USD 100 billion loss, he said, investments in shares and stocks go up and down, that's a part of the investment, but nowhere have the people of India lost those levels of sums that are mentioned (USD 100 billion).
Also watch: <a href="https://www.editorji.com/india-news/adani-row-fm-nirmala-sitharaman-s-8-billion-answer-on-possible-impact-on-india-s-position-in-markets-1675504975192">Adani row: FM Nirmala Sitharaman's '8 billion' answer on possible impact on India's position in markets</a>
The financial institutions have already clarified that their money is absolutely secured and safe, the Minister said, adding the two principal organisations LIC and State Bank, have both come out with details.
"I think it is a matter of a private company, a report which has been brought out by a foreign agency, based on which some of the allegations have been made, whatever regulators need to do, they will take appropriate action on that," he said.

Until last week, he was the world's third-richest man. By Thursday he had slipped down to 16th place in the real-time Forbes rich list 

Adani vs Hindenburg: Adani bonds recover after plunging to distressed levels

After shares, Adani bonds plunged to distressed levels

Adani bonds recover after plunging to distressed levels

The 10 listed Adani Group firms have faced a combined erosion of over Rs 8.76 lakh crore in past six trading sessions

Adani bonds&nbsp; Day after Adani Group's combined market capitalisation plummeted by more than $100 billion, shares of Adani Enterprises were trading 15% lower on the BSE in the morning trade on Friday. Adani Enterprises plunged over 26 per cent on Thursday and more than 28 per cent on Wednesday.
The 10 listed Adani Group firms have faced a combined erosion of over Rs 8.76 lakh crore in past six trading sessions. Big banks including Credit Suisse and Citigroup have stopped accepting Adani bonds as collateral for loans to private clients, according to Bloomberg News.
That fuelled worries about how Adani will raise fresh funds, with Adani dollar bonds trading at distressed levels and signs of contagion in Indian markets increasing, Bloomberg reported.
The 2031 notes sold by Adani Ports, one of those which had a payment date on Feb. 2, climbed 3.7 cents on the dollar to 67.7 cents as of 10:50 a.m. in Hong Kong. Adani Green Energy Ltd.&rsquo;s dollar bond maturing in Sept. 2024 rose 6.8 cents on the dollar to 70.4 cents, on course for its biggest daily increase on record, according to Bloomberg-compiled data.
Even so, some on the conglomerate&rsquo;s dollar debt is trading at below 70 cents, a level which is typically considered distressed.

FM Sitharaman breaks her silence on Adani vs Hindenburg report

The combined market cap of Adani Group's listed units has collapsed by more than $120 billion -- about half of the group's value -- since US short-seller Hindenburg Research released an explosive report last week

Indian Finance Minister Nirmala Sitharaman said Friday her country's markets were "well regulated" and she did not expect the controversy around tycoon Gautam Adani's business empire to affect investor confidence.
The combined market cap of Adani Group's listed units has collapsed by more than $120 billion -- about half of the group's value -- since US short-seller Hindenburg Research released an explosive report last week.
It accused Adani of accounting fraud and artificially boosting its share prices, calling it a "brazen stock manipulation and accounting fraud scheme" and "the largest con in corporate history".
India remained "an absolutely well governed" country and a "very well regulated financial market", Sitharaman told broadcaster News18.
"One instance, however much talked about globally, I would think is not going to be indicative of how well Indian financial markets have been governed," Sitharaman said.
Sitharaman said public sector financial institutions had released detailed statements showing they had limited exposure to Adani Group and would not be significantly affected by the share crash.
"I think the investor confidence which existed before shall continue even now," she added.

From being the 2nd richest in the world just a few weeks ago, Gautam Adani has now been knocked off the world’s top 20 rich list as well

Adani Group shares rout: This week’s top developments 

From being the 2nd richest in the world just a few weeks ago, Gautam Adani has now been knocked off the world&rsquo;s top 20 rich list as well

Adani group stocks have been on a downward spiral as a result of the scathing Hindenburg report which accused the Adani group of &ldquo;brazen stock manipulation and accounting fraud&rdquo; The Adani group slammed the accusations, calling them baseless and discredited allegations. The group also threatened legal action and provided a 400-page rebuttal. However, Hindenburg research continues to stand by its report. Here are the top 10 developments of the week. RBI Issues Statement The Reserve Bank of India has issued a statement saying that as per its current assessment, the banking sector remains &nbsp;resilient and stable. RBI says &ldquo;there have been concerns over exposure of banks to a business conglomerate.&rdquo; The statement goes on to say that the RBI maintains a constant vigil and continues to monitor the banking sector.
FM Sitharaman reacts to Adani group row Finance Minister Nirmala Sitharaman, on Friday, reacted to the controversy surrounding the Adani group. In an interview to News18, FM said that India&rsquo;s financial sector was very well regulated, and that investor confidence won&rsquo;t be affected. "India remains as before, absolutely well-governed with a stable government and a well-regulated financial market.&rdquo; On the issue of LIC and SBI&rsquo;s exposure to Adani group companies, FM said that both SBI and LIC have issued detailed statements and have explained how they are not overexposed and are sitting on profits for the exposure that they have.
Adani Group shares&rsquo; spiral Since the 25th of January, after the Hindenburg report was released, Adani group stocks have seen a massive fall. The Adani group&rsquo;s market capitalization has been eroded by over $100 billion since then. As of Friday&rsquo;s close, 7 Adani group stocks have fallen anywhere between 30% to 55% in the last 10 days. <img src="https://cdn.editorji.com/63dcf758dc037_1675425624.jpg" width="495" height="255"> 
Adani Ports added to NSE&rsquo;s F&amp;O ban list 2 Adani group stocks &ndash; Adani Ports &amp; Ambuja Cements were added to NSE&rsquo;s F&amp;O ban list for Friday. This ban rule helps reduce speculation in stocks as traders are not allowed to take fresh positions.
3 Adani Group stocks placed under additional watch by NSE National Stock Exchange places Adani Enterprises, Adani Ports &amp; Ambuja Cements under additional surveillance mechanism, to curb speculation and short-selling. Trading in their shares will require a 100% margin.
Adani Enterprises to be removed from Dow Jones sustainability indices S&amp;P Dow Jones said it would remove Adani Enterprises from the widely used sustainability indices with effect from February 7th. In a statement, S&amp;P Dow Jones said, &ldquo;Adani Enterprises will be removed from the Dow Jones Sustainability Indices following a Media &amp; Stakeholder Analysis triggered by allegations of stock manipulation and accounting fraud.&rdquo;&nbsp;
Gautam Adani in talks to prepay &amp; release pledged shares Adani Group Chairman, Gautam Adani is in talks with lenders to prepay and release pledged shares in an effort to restore confidence, as per a Bloomberg report.
RBI seeks details from banks on Adani exposure The Reserve Bank of India has sought details from banks over their exposure to the Adani group companies, as per a Reuters report. However, there has been no official confirmation from the central bank so far.
Uproar in Parliament over Adani rout Both the Lok Sabha and Rajya Sabha were adjourned till Monday, after a massive uproar over the plunge in Adani group share prices. Opposition demand a discussion on the risk to Indian investors. Demands for a parliamentary panel probe were also raised.
Gautam Adani out of world&rsquo;s top 20 rich list From being the 2nd richest in the world just a few weeks ago, Gautam Adani has now been knocked off the world&rsquo;s top 20 rich list as well.
Adani Enterprises FPO called off On 1st of February, Adani Enterprises withdrew its follow-on public offering, despite the FPO being fully subscribed. The company cited &lsquo;unprecedented circumstances&rsquo; and market volatility and said the money would be returned to shareholders. In fact, for the first time amid the entire controversy, Chairman, Gautam Adani spoke out, saying that it wouldn&rsquo;t be morally correct to proceed with the FPO.

According to NSE, Investors will have to pay 50% or existing margin, whichever is higher, subject to cap of 100%

Adani Port, Adani Enterprise, Ambuja Cements shares under additional surveillance

Adani shares row: NSE puts an additional watch for traders 

According to NSE, Investors will have to pay 50% or existing margin, whichever is higher, subject to cap of 100%

As Adani group stocks continue their downward spiral for the seventh day, the National Stock Exchange has now placed an additional surveillance on three of the group company stocks - Adani Enterprises, Adani Ports and Ambuja Cements.&nbsp;&nbsp; Now, trading in the shares of these three firms will require a 100 percent margin, which is aimed at curbing speculation and shortselling. Additional surveillance mechanism is a signal to investors that the stocks have seen unusual activity.&nbsp; The criteria for additional surveillance mechanism are jointly decided by the capital markets regulator, SEBI and the stock exchanges. The parameters include &ldquo;high low variation, client concentration, PE, close to close price variation, market capitalisation, volume variation, delivery percentage, and number of unique PANs&rdquo;.&nbsp; Two days ago, on Wednesday, in a dramatic late night move, Adani Enterprises called off its fully subscribed, Rs 20,000 crore follow-on public offering and announced that it would return the money to investors. The reason for this, the group said, was the unprecedented conditions and market volatility.&nbsp; The Adani group stocks have been crashing day after day since the U.S based short seller Hindenburg Research released a report which accused the group of stock manipulation and fraud.&nbsp;
The Adani Group slammed the accusations, calling them baseless and discredited allegations.&nbsp;

RBI asks banks for details of exposure to Adani Group: Reports

Many of the Adani group companies once again hit their lower circuit limits during early trade on Thursday.&nbsp;

Hours after Adani decided not to go ahead with the fully subscribed FPO and Gautam Adani broke his silence, reports say that RBI has asked domestic banks for details of their exposure to Adani group companies. A Reuters report quotes govt and banking sources.&nbsp; Shares of Adani Enterprises tumbled 15 per cent in early trade on Thursday, a day after the firm said it had decided not to go ahead with its Rs 20,000-crore Follow-on Public Offer (FPO) and would return the proceeds to investors.
Adani Group stocks have taken a massive beating on the bourses since Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

The Rs 20,000 crore share sale of Adani group's flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data

Adani Enterprises FPO fully subscribed

The Rs 20,000 crore share sale of Adani group's flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data

Adani Enterprises FPO Adani Enterprises&rsquo; Follow-On Public Offer or FPO has been over-subscribed. At the time of writing this story, the subscription under the Qualified Institutional Buyers or QIBs category stood at 126 per cent, while the subscription for the Non Institutional Investors or NIIs quota was at 326 per cent. As expected, retail participation in the FPO remained tepid, while the quota for employees saw a little over 50 per cent subscription. Remember, the Adani Group had ruled out changes to the date and the price of the FPO, despite the sell-off in Adani Enterprises shares after a report by the US based short-seller Hindenburg Research. Today, the stock closed almost 2.5 per cent higher, closing in the green for the second consecutive session.

hindenburg

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