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That's not what the article says. > Adani, the nephew of Gautam Adani, was sent a notice by the Securities and Exchange Board of India (SEBI) last year which a
by pseudo0 1y ago
That's not what the article says.
> Adani, the nephew of Gautam Adani, was sent a notice by the Securities and Exchange Board of India (SEBI) last year which alleged he shared information about Adani Green's (ADNA.NS), 2021 acquisition of SoftBank-backed SB Energy Holdings with his brother-in-law before the deal was announced, according to a source and the document.
Some Adani relative is getting a slap on the wrist for a $100k insider trading violation. This has nothing to do with the main issues raised by Hindenburg.
- lazide 1y agoNobody in the current lower structure is going to do anything about what Hindenburg raised - they’re too complicit.
- alephnerd 1y agoOther way around. Lower rungs at AGMUT roles are the most vocal about abuses of power becuase they want to become a joint secretaries in 20 years. It's once your role approaches cabinet appointment level that stuff gets dicey. Of course, Pandeyji is fairly clean and has a reputation as an enforcer in Odisha and later during the cleanup in the run-up of privatization. It's going to be mid-level leadership that will push back. Like I said before, treat this the same way you would similar news in Vietnam, China, Russia, or Romania.
- geodel 1y agoIndeed. Seems political establishment and regulators were waiting to find some small piece to sacrifice and now that they have found one, "rule of law will be applied to fullest extent". Unlike corruption etc, rule of law really is best way to reward your favorites and punish your adversaries thoroughly.
- alephnerd 1y agoPretty much. Welcome to the developing world. Morality and ethics don't matter. They are tools like any others in power plays . As the classic Indian maxim states - "Jiski laathi, uski bhains".
- senderista 1y ago“To my friends, everything; to my enemies, the law.”
- geodel 1y agoI call same thing at work: "To my friends, everything; to my enemies (or everyone else) corporate policy".
- miohtama 1y agoIt's called selective enforcement https://en.m.wikipedia.org/wiki/Selective_enforcement https://en.m.wikipedia.org/wiki/Selective_enforcement India has history on this https://m.economictimes.com/news/india/india-using-anti-money-laundering-laws-to-harass-ngos-amnesty/articleshow/113519052.cms https://m.economictimes.com/news/india/india-using-anti-mone...
- alephnerd 1y agoI corrected the link. It's annoying finding sources that don't end with a ".in" despite being extremely reliable (such as Policy Circle or The Print) > Some Adani relative Heir apparent, who is now open to getting FIRs filed against him.