The Securities and Exchange Board of India (SEBI) has refuted the allegations made by Hindenburg Research and emphasized that it has adequate internal mechanisms for addressing issues relating to conflict of interest, which include disclosure framework and provision for recusal. It also noted that relevant disclosures required in terms of holdings of securities and their transfers have been made by the Chairperson from time to time. It also highlighted that the chairperson has also recused herself in matters involving potential conflicts of interest.

The SEBI has also asked investors to remain calm and exercise due diligence before reacting to such reports. In a statement, the country’s stock market regulator also asked investors to take note of the disclaimer in the report that states that readers should assume that Hindenburg Research may have short positions in the securities covered in the report.

Highlighting about the claims made in the Hindenburg research report, SEBI said that these issues warrant an appropriate response. It further said that the allegations made by Hindenburg Research, against the Adani Group, have been duly investigated by SEBI.

The SEBI also said that it remains committed to ensuring the integrity of India’s Capital markets and its orderly growth and development.