Hindenburg Research Report

A bench headed by Chief Justice of India (CJI) D.Y. Chandrachud and comprising justices P.S. Narasimha and J.B. Pardiwala said that it accepts the petitioners' point that Sebi cannot take indefinitely long period to complete its probe and "we are not going to give them six months, we give them three months", adding that it is not keen on accepting Sebi's request to grant six-month extension to complete the probe.

The Mauritius minister gave this reply in response to a question about Hindenburg Research's allegations against Adani Group. After a Mauritius MP asked the minister about Hindenburg's allegation of use of Mauritius-based entities for money laundering and share price manipulation for the Adani Group, the minister said shell companies are not allowed in Mauritius.

According to the Bloomberg Billionaires Index, Dorsey's fortune decreased by $526 million on Thursday, resulting in his worst single-day decline since May.  With an 11% drop, Dorsey's net worth now stands at $4.4 billion. Hindenburg's report accused Block of inflating user metrics and claimed that the stock had a downside of 65% to 75% "on a purely fundamental basis.

The government said in view of the unprecedented financial loss suffered by the investors and in view of the complexities involved in the subject which requires urgent consideration, a fact-finding exercise requires to be undertaken as a one-time measure and a committee can be constituted with a former judge of the Supreme Court as its head.

Solicitor General Tushar Mehta, representing the Centre, submitted before a bench headed by Chief Justice of India D.Y. Chandrachud that: "Our instructions are that existing structure - Sebi and other agencies - are fully equipped not only regime wise but otherwise also, in taking care of the situation.

In a regulatory filing, the LIC said the credit rating of all of the Adani debt securities held by LIC are 'AA' and above which is in compliance with the IRDAI investment regulations as applicable to all life insurance companies. Shares of Adani group's listed entities came down after short seller Hindenburg Research came out with a report alleging fraud by the Indian conglomerate.

"Presently there is a situation that's emerging and we are not sure what is the factual position ... Since we are a large investor we have the right to ask relevant questions and we will definitely engage with them," LIC Managing Director Raj Kumar was quoted as saying by Reuters.