SEBI Will Continue Hindenburg Probe, Says Mahesh Jethmalani As Short Seller Shuts Shop

The Securities and Exchange Board of India will continue its investigation into Hindenburg Research, Mahesh Jethmalani, senior advocate and former Rajya Sabha MP, has said.

This comes as Nate Anderson, founder of the US-based short seller, announced he was disbanding the firm on Thursday. "There is not one specific thing — no particular threat, no health issue and no big personal issue,” Anderson wrote in a letter posted on the firm’s website.

Hindenburg has been under scrutiny by the Indian markets regulator after its report on the Adani group failed to hold up in the Supreme Court.

"The investigation should move further, especially focusing on those who have acted against India's economic interests. All Indian individuals involved should be thoroughly probed by the CBI," Jethmalani told NDTV Profit.

There is no doubt that many people have profited from this, he added.

"I have no doubt that American authorities will also investigate this matter," he further shared.

Jethmalani also raised questions about the timing of certain events, stating, "When Trump came into office, the Deputy Attorney General had resigned. These individuals were part of a system that needs to be examined."

Meanwhile, the US markets regulator has also initiated actions against another short-seller, Andrew Left, alleging fraudulent practices.