US short-seller Hindenburg Research has said it is not under investigation by the US SEC as it rubbished alleged links of its founder to a hedge fund for preparing reports targeting companies.
Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying $265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts. Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
US Secretary of State Marco Rubio on Thursday spoke separately with External Affairs Minister S Jaishankar and Pakistani Prime Minister Muhammad Shehbaz Sharif, emphasising the need for de-escalation and reiterated his calls for Pakistan to take concrete steps to end any support for terrorist groups.
The phone conversation came amid escalating tensions between India and Pakistan over the April 22 terror attack that killed 26 civilians.
The United States on Thursday said it supports India's right to defend itself and its fight against terrorism as US Defence Secretary Pete Hegseth dialled Defence Minister Rajnath Singh amid rising tensions between India and Pakistan over the Pahalgam terror attack.
Activist short-seller Nathan Anderson, known for his high-profile campaigns against the likes of Adani Group, said he is closing his firm, Hindenburg Research, not because of any threat -- legal or otherwise -- and that he stands by all its reports.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Billionaire Gautam Adani and his nephew Sagar Adani have not been charged with any violations of the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US authorities in a court in a bribery case, the Adani Group said on Wednesday.
US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd.
Bank of America has been hit by a whistleblower complaint that its officials in Asia had shared "non-public information" with investors "before the bank sold hundreds of millions of dollars of stock", reports the Wall Street Journal.
US prosecutors' case against Gautam Adani and others may stumble on the extraterritorial application of American law.
The Indian regulator played key role in uncovering the identity of two Indian men who floated the scheme
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
Infosys on Tuesday said the US Securities and Exchange Commission has concluded the investigation into the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator. In October last year, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.
Infosys said it is also "aware of a securities class action lawsuit" that has been filed against the company in a federal court in the US, based on the generalised allegations in the anonymous complaints. The company intends to defend itself vigorously in such a lawsuit.
The US Securities and Exchange Commission (SEC) team met the six-member government appointed board of the Satyam Computer Services here on Thursday.
The latest in this class is the complaint of insider trading filed by the United States Securities Exchange Commission against many individuals in a Manhattan court. The list of individuals includes Anil Kumar, a member of the much-feted Indian School of Business and reputed hedge fund manager Raj Rajaratnam.
Sebi is reportedly examining the matter internally and has reached out to the fund house on the matter.
Monday's move indicated China was refusing to yield in talks with the United States over access to Chinese audit papers, trying to keep foreign regulators off what it sees as its turf.
India is concerned that SEC might have influenced rating given to the country by Fitch.
External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman were to travel to the US to take part in the meeting with US Secretary of State Michael R Pompeo and Secretary of Defence James Mattis on July 6.
US SEC order says that Cadbury India paid an agent a total of USD 90,666 (Rs 61.70 lakh) for "providing consultation, arrange statutory/government prescribed formats of applications to be filed for various statutory clearances, documentation, preparation of files and the submission of the same with government authorities," for specific licences.
Sri Lanka on Monday said the global community cannot raise issues of rights violations against it unless guided by "political reasons," as a top United States official arrived in Colombo coinciding with the United Nations rights council meeting to discuss alleged war crimes during the Liberation Tigers of Tamil Eelam conflict.
United States Defence Secretary Lloyd J Austin arrived in India on Friday on a three-day visit, aimed at further boosting bilateral defence and security ties in the wake of China's growing military assertiveness in the region including the Indo-Pacific.
The company, which had made voluntary disclosures about the bribery incident to the US authorities, also said with this resolution, there was no pending investigations against Cognizant.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
A board position requires one to hold at least 3 per cent of the outstanding shares. Binny holds around 5 per cent stake in Flipkart
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
On his personal Google+ page, the 52-year old announced his plans.
'Where is the board's accountability in this whole transaction? The members of the earlier board who participated in approving and defending these acquisition are still in the current board,' the whistleblower said in a mail sent to US SEC and Sebi.
Participants can provide anonymous feedback on market manipulation.
The move, first announced in March 2014, is expected to generate net annualised cost savings of $175-200 million once fully implemented.
Its international revenue stood at $53 million in 2012, accounting for 17 per cent of its overall revenue.
Struggling BlackBerry may have to shell out $157 million to Fairfax Financial if the smartphone maker backs out from the proposed $4.7 billion takeover offer.
Former iGate CEO Phaneesh Murthy, who was sacked by the US-based IT services firm for failing to disclose his relationship with a subordinate in May this year, has slapped the company with a law suit.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
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