BJP Reacts To Hindenburg Research Shutting Down, Slams Congress For Supporting 'Anti-India Lies'

“There is not one specific thing — no particular threat, no health issue and no big personal issue,” Hindenburg Research Founder Nate Anderson wrote in a letter posted on the firm’s website on Thursday. “The intensity and focus has come at the cost of missing a lot of the rest of the world and the people I care about. I now view Hindenburg as a chapter in my life, not a central thing that defines me.”

Anderson said he was winding up his firm after working through the last of its ideas and handing off tips on suspected ponzi schemes to regulators.

Last year, the Securities and Exchange Board of India had issued a show cause notice to Hindenburg Research, Nathan Anderson and the entities of Mauritius-based foreign portfolio investor Mark Kingdon for trading violations in the scrip of Adani Enterprises Ltd., leading up to Hindenburg Report and thereafter.

SEBI pointed out that Hindenburg and the FPI entities undertook misleading disclaimer that the report was solely for the valuation of securities traded outside India, when it clearly pertained to listed entities in India. The regulator said Kingdon aided Hindenburg to indirectly participate in Adani Enterprises by collaborating with the short seller to trade in the company's futures in the Indian derivatives market and shared profits with the research firm.

The Supreme Court in July dismissed a review petition that was filed against its Jan. 3 judgement in the Adani Group-Hindenburg Research case, wherein the court reposed confidence in SEBI's regulatory powers and ruled that petitioners could not provide enough material to transfer the probe to a special investigation team.