SEBI Slaps Show Cause Notice On Hindenburg Over Adani Issue; US Firm Terms It 'Nonsense'

The New York-based firm, in a statement, said it had while putting out the report that alleged "brazen stock manipulation and accounting fraud scheme over the course of decades" at the Adani group, disclosed that it was short on Adani (meaning it had anticipated a fall in the value of stock and thus traded on it).