Discover and read the best of Twitter Threads about #SEBIs
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1 THREAD on the SC’s order today constituting an expert committee to enquire into the #Hindenburg allegations. The supreme irony is that #SEBI gets away scot-free. Crucially, invoking the holy grail of “investor protection” is how #SEBI escapes court criticism/scrutiny
2 It is important to reiterate that crux of the Hindenburg allegations rest on the claim that the ownership of the #Adani Group Cos is concentrated above SEBI-set levels through entities not at arms length from the promoters. The rest of the allegations stem from this central one
3 The overvaluation of group company stocks and therefore of the companies is made possible because of the low “free float” - implying scope for manipulation - which then enables the #Adani Group to leverage even greater volumes of debt
