Super Micro Computer Inc., a major player in the data center hardware sector, is facing turbulent times as its stock took a sharp dive after the company revealed a severe downward revision of its sales forecasts for the September and December quarters. The San Jose-based tech giant, already under scrutiny for alleged accounting mismanagement, is […]
In a fresh regulatory blow to the Adani Group, India’s market regulator, the Securities and Exchange Board of India (SEBI), has issued show-cause notices to six companies within the conglomerate. The notices, filed under scrutiny for non-compliance with listing regulations and questionable related party transactions, affect several of Adani’s prominent companies, including Adani Enterprises, Adani […]
The Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch and her husband Dhaval Buch have responded to the Congress Party’s accusations of corruption and conflict of interest, claiming that the allegations are “false, malicious, and motivated.” They allege that their income tax returns were illegally obtained and used to construct a misleading […]
The Adani Group has forcefully denied recent allegations that Swiss authorities froze $310 million in funds linked to the conglomerate as part of an ongoing investigation into money laundering and securities forgery. The claims, initially made by US-based short seller Hindenburg Research, referenced newly released Swiss criminal records that reportedly show over $310 million held […]
ICICI Bank has denied claims that it paid any salary or granted Employee Stock Ownership Plans (ESOPs) to Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch after her retirement from the bank. The statement came after allegations from the Congress Party, which suggested Buch received ₹16.8 crore from ICICI Bank since 2017, […]
Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), is under scrutiny following allegations that she may have breached regulatory rules by continuing to earn revenue from a consultancy firm during her tenure. Documents reviewed by Reuters reveal that Agora Advisory Private Limited, in which Madhabi Puri Buch holds a 99% […]
In a high-stakes rebuttal today, India’s powerhouse conglomerate, the Adani Group, released a statement slamming the Organized Crime and Corruption Reporting Project (OCCRP) Report. The report had alleged that the Adani Group violated certain laws. This isn’t the first time an international entity has tried to sully the Adani name. Previously, New York-based short-seller Hindenburg […]
Adani Group’s founder and chairman, Gautam Adani, alleged that the Hindenburg report was a calculated, damaging ploy to tarnish the reputation of the Adani Group and profit by temporarily causing a dip in its stock prices. The Indian billionaire, one of the richest persons in the world, expressed this view in a discussion with the […]
Adani Power Limited has given up on its previously announced INR 7,017 crores acquisition of DB Power Limited after the long stop date under the memorandum of understanding signed by the parties dated 18 August 2022 expired on Wednesday, 15 February 2023. Last month, the parties mutually agreed to extend the long stop date by […]