Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

US short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="153" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> has alleged that it suspects <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="153" meta.entityid="Sebi">SEBI</keyword>'s unwillingness to act against <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="153" meta.entityid="Adani Group">Adani Group</keyword> may be because of its head Madhabi Puri Buch had stakes in <keyword id="20311680" type="General" weightage="20" keywordseo="offshore-funds" source="keywords">offshore funds</keyword> linked to the conglomerate - an allegation that the SEBI head called "baseless" and an attempt of "character assassination". Hindenburg alleged that Buch and her husband had undisclosed investments in <keyword id="22746661" type="General" weightage="20" keywordseo="obscure-offshore" source="keywords">obscure offshore</keyword> funds in Bermuda and Mauritius, the same entities allegedly used by <keyword id="20283220" type="General" weightage="20" keywordseo="Vinod-Adani" source="keywords">Vinod Adani</keyword> - the elder brother of group chairman Gautam Adani - to round-trip funds and inflate stock prices. SEBI in October 2020 began a probe into the shareholding structure of Adani Group companies after red flags were raised over high concentration of foreign holdings in the conglomerate's listed companies. Investigation was launched to determine if the foreign investors are genuine public shareholders or acting as fronts for the promoters. SEBI last year had told a Supreme Court-appointed panel that it was investigating 13 opaque offshore entities that held between 14 per cent and 20 per cent across five publicly traded stocks of the conglomerate. It hasn't stated if the two incomplete probes have since been completed, something which Hindenburg used to attack the market regulator. Madhabi and her husband Dhaval Buch in a joint statement strongly denied the "baseless allegations and insinuations made in the report". The same, they said, "are devoid of any truth". "Our life and finances are an open book," they said. "It is unfortunate that Hindenburg Research against whom SEBI has taken an enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same." While the statement did not talk on the questions Hindenburg raised over SEBI probe, the duo promised to come out with a detailed response. Hindenburg on Saturday stated that the Madhabi and her husband invested in offshore entities that were allegedly part of a fund structure managed by India Infoline and in which Vinod Adani also had investments. These investments reportedly date back to 2015, well before her appointment as a whole-time member of SEBI in 2017 and the subsequent elevation as chairperson in March 2022. It said Bermuda-based Global Opportunities Fund, which allegedly was used by entities connected to Adani Group to trade in shares of group companies, had sub-funds. Buch and her husband were investors in one of these sub-funds in 2015. Citing "whistleblower documents", Hindenburg said, "<keyword id="22743118" type="General" weightage="20" keywordseo="Madhabi-Buch" source="keywords">Madhabi Buch</keyword>, the current chairperson of SEBI, and her husband had stakes in both obscure offshore funds used in the Adani <keyword id="22743230" type="General" weightage="20" keywordseo="money-siphoning" source="keywords">money siphoning</keyword> scandal." SEBI, it claimed, has "shown a surprising lack of interest in Adani's alleged undisclosed web of Mauritius and offshore shell entities." The Buchs may have first opened their account with IPE Plus Fund 1 on June 5, 2015 in Singapore. IPE fund is a small offshore Mauritius fund set up by Vinod Adani through India Infoline (IIFL), a wealth management firm with ties to the Wirecard embezzlement scandal. "Vinod...used this structure to invest in Indian markets with funds allegedly siphoned from over invoicing of power equipment to Adani Group," claimed Hindenburg. Latching on to the Hindenburg allegations, Congress said the revelations only reinforced its demand for setting up a "joint parliamentary committee to investigate the full scope of the Adani mega scam" while the Trinamool Congress said the SEBI chairperson must resign. In January last year, Hindenburg accused Adani Group of pulling "the largest con in corporate history" by using a web of companies in tax havens to inflate its revenue and manipulate stock prices, even as debt piled up. After the Hindenburg report, the SC asked SEBI to complete its investigation and set up a separate expert panel to look into regulatory lapses. The panel did not give any adverse report on Adani and the apex court too stated that no other probe other than one being done by SEBI was required. On June 26 this year, SEBI in a show cause notice charged Hindenburg of "deliberately sensationalising and distorting certain facts" as well as working with a New York hedge fund to make its bet. Hindenburg had responded to that saying it made just USD 4.1 million from its declared positions on Adani stocks and criticised the regulator for not focusing its investigation into the January 2023 report "providing evidence" of the group creating "a vast network of offshore shell entities" and moving billions of dollars "surreptitiously" into and out of Adani public and private entities. Gautam Adani, who was the world's third-richest man before Hindenburg, in an epic comeback strategy raised USD 15 billion in equity and debt, sold some assets, repaid loans that was raised pledging shares, reined in expenses and refocused energies on core business. Adani is now ranked 12th richest in the world. The group has also made some acquisitions, buying cement company Sanghi Industries and the news agency IANS. Hindenburg on Saturday alleged that just weeks before Buch's appointment to SEBI, her husband requested the transfer of their investments into his sole control, potentially to avoid any scrutiny related to her new regulatory role. The couple's investments were reportedly funnelled through a complex, multi-layered offshore structure, raising questions about their legitimacy and purpose. On March 22, 2017, just weeks ahead of Buch's appointment as SEBI whole-time member, Dhaval wrote to Mauritius fund administrator Trident Trust. That communication was regarding his and his wife's investment in the Global Dynamic Opportunities Fund (GDOF), the US firm alleged. "In the letter, Dhaval requested to "be the sole person authorised to operate the Accounts", seemingly moving the assets out of his wife's name ahead of the politically sensitive appointment," Hindenburg alleged. Dhaval is a senior advisor at Blackstone and at Alvarez &amp; Marsal. He also serves as a non-executive director on the Board of Gildan.

After Adani, Hindenburg targets SEBI chief, she calls allegations baseless, character assassination

The <keyword id="20070916" type="General" weightage="20" keywordseo="GMR-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="GMR Group" meta.hostid="261" meta.entityid="GMR Group">GMR Group</keyword>, co-owners of <keyword id="20150498" type="General" weightage="20" keywordseo="IPL-franchise" source="keywords">IPL franchise</keyword> <keyword id="19907060" type="General" weightage="20" keywordseo="Delhi-Capitals" source="keywords" meta.keywordsubtype="org" meta.entityname="Delhi Capitals" meta.hostid="261" meta.entityid="Delhi Capitals">Delhi Capitals</keyword>, has agreed to a deal with <keyword id="22638160" type="General" weightage="20" keywordseo="English-county-team" source="keywords">English county team</keyword> <keyword id="22436824" type="General" weightage="20" keywordseo="Hampshire" source="keywords" meta.keywordsubtype="org" meta.entityname="Hampshire" meta.hostid="261" meta.entityid="Hampshire">Hampshire</keyword> to buy its major shares worth 120 million pounds (approximately Rs 1278 crore). Hence, Hampshire will become the first county side to be owned by an overseas entity, as the GMR Group will now have control over 51 per cent of the team's shares. "The Delhi part-owners are understood to have beaten a second bid from rival Indian Premier League franchise Lucknow Super Giants with an offer which values Hampshire at £120 million, although that price includes the club's debts of around £60 million," the Telegraph reported. Additionally, the GMR Group will also take control of the Utilita Bowl (cricket stadium at Hampshire), the Hilton hotel and a golf course at the same venue. Apart from being the co-owners of the Capitals, the GMR Group also has equal stakes in Dubai Capitals, the ILT20 side in the UAE, and Seattle Orcas, the Major League Cricket outfit in the USA. The England and Wales Cricket Board (ECB), the Hampshire club officials and the new owners are expected to make an official announcement soon about the deal. Besides the significant investment, the take over could also open up the possibility of Hampshire gaining access to some of Delhi Capitals' young players for domestic tournaments such as the Hundred. However, at present, the Board of Control for Cricket in India (BCCI) does not permit active Indian cricketers to play in overseas tournaments. In another significant development, Yorkshire, another English county side, has reopened their talks with Rajasthan Royals for a possible takeover of the Headingley based club. However, this would require a consent from 6000 Yorkshire members through a ballot. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

Delhi Capitals owners agree to buy major share in Hampshire takeover

The unsung warriors of 'The Price Is Right'

As many as seven <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-group" source="keywords">Adani group</keyword> stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="Adani-Power" source="keywords">Adani Power</keyword> dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of <keyword id="19963163" type="General" weightage="20" keywordseo="ACC" source="keywords" meta.keywordsubtype="org" meta.entityname="ACC" meta.hostid="261" meta.entityid="ACC">ACC</keyword> jumped 1.94 per cent, NDTV climbed 1.01 per cent and <keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 per cent), Adani Total (0.89 per cent), NDTV (0.57 per cent), Ambuja Cements (0.54 per cent) and ACC (0.46 per cent). Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group -- a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings nor any of its accounts are subject to sequestration. US-based short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword>, which had last year targeted the Adani group in a damning report that led to wiping away of USD 150 billion in market value of listed firms of the conglomerate in the following weeks, in a post on X cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021." "Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius &amp; Bermuda funds that almost exclusively owned <keyword id="20372802" type="General" weightage="20" keywordseo="Adani-stocks" source="keywords">Adani stocks</keyword>," it said citing the report. Adani group rejected the allegations as baseless, saying it had no involvement in any Swiss court proceedings. "We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said. The Swiss media outlet Gotham City in its report stated that a ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutor's Office was investigating alleged wrongdoing and more than USD 310 million belonging to an alleged frontman for billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> have been sequestered in five Swiss banks over the last three years. The Swiss investigators suspect that the associate, Chang Chung-Ling, is not the ultimate beneficial owner (UBO) of the company under investigation, but a mere front. The Adani Group, however, said that the court order was not linked to them and they have not been mentioned in it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

<ul class="summary-list"><li><keyword id="20348245" type="General" weightage="20" keywordseo="zach" source="keywords">Zach</keyword> and Annie moved their family from <keyword id="19916114" type="General" weightage="20" keywordseo="california" source="keywords">California</keyword> to <keyword id="20109210" type="General" weightage="20" keywordseo="scotland" source="keywords">Scotland</keyword> for a simpler life.</li><li>The couple, who have three young kids, loved California but felt that it was too fast-paced.</li></ul>Zach, 38, and Annie, 37, packed up their lives and moved their family from the US to <a target="_blank" class="" href="https://www.businessinsider.com/tiny-home-renovation-old-abandoned-cottage-scotland-before-after-photos-2022-7">Scotland</a> earlier this year. They had been living in <a target="_blank" class="" href="https://www.businessinsider.com/people-stunned-price-of-palo-alto-california-home-for-sale-2024-5">California</a>, where Zach — who was originally from Scotland — was working with the highway patrol. Because of his job, the couple and their three kids had to move frequently throughout the state. Although they had a chance to live in places such as Sonoma County and around <keyword id="19915272" type="General" weightage="20" keywordseo="silicon-valley" source="keywords">Silicon Valley</keyword>, life always felt "<a target="_blank" class="" href="https://www.businessinsider.com/reasons-i-left-silicon-valley-california-after-two-years-2023-12">extremely fast-paced</a>," Annie, who works in healthcare, told Business Insider. "Life just seemed to be work — or school for the kids — a little break and then repeat. It seemed hard to fit in a lot of quality family time or fun little adventures," Zach told BI. <div type="image" title="A man and a woman posing for a selfie." height="1600" width="1185" msid="113889827" hostid="261"></div>The couple, whose children — two sons and one daughter — are below 10, asked to be identified by only their first names to protect their privacy. They wanted to live a simpler life with their kids, away from the rat race and the pressure to constantly <a target="_blank" class="" href="https://www.businessinsider.com/millionaire-investing-saving-spending-financial-independence-retire-early-fire-2024-9">keep up with the Joneses.</a> Annie had always wanted to live in Scotland, and late last year — after a decade of living in California — it finally seemed like the right time for their family to seriously consider taking the plunge. <h2>Preparing for the move</h2>In a way, the move felt like it had been 10 years in the making. "Ever since I met Zach, I've wanted to live in Scotland. It's just been me slowly wearing him down and trying to get him to come back," Annie said. The timing for their move was right, in part because their kids were still young. "We knew if we were ever going to make the move, we had to move before our kids established true friend groups and got too far in their academics to where that transition would be difficult," Annie said. The couple knew they wanted to be in the East Lothian area just outside Edinburgh because it was near where Zach grew up. It was also a place that their kids were familiar with. "We made an effort pretty much every year, apart from during COVID-19, to travel back to Scotland," Zach said. Familiarity aside, their kids were also excited by the move because they'd made plenty of good memories on their past visits. <div type="image" title="A wooden front door of a cottage." height="4284" width="5712" msid="113889818" hostid="261"></div>"They love <a target="_blank" class="" href="https://www.businessinsider.com/how-i-bought-my-first-house-22-2024-3">Scotland</a> because they've been here so many times, and every time they come over they think it's magic because their grandparents spoil them and take them to all of the best places," Annie said. "So when we said that we were moving to Scotland, they were all for it for the most part." While Zach and their kids had UK passports, Annie had to apply for a spousal visa, which she said took about two months to be approved. Then came the exciting part: looking for a <keyword id="7173" type="General" weightage="20" keywordseo="house" source="Orion">house</keyword>. Thankfully, the process wasn't too hard, even though they were still living in California at the time. <div type="image" title="Zach and Annie moved from California to Scotland with their three young kids." height="4284" width="5712" msid="113889826" hostid="261"></div>"Annie's hobby is looking at houses all around the world, she's constantly browsing for fun," Zach said. When the listing for a cozy three-bedroom house came up, the couple jumped on the opportunity. "When it popped up, I thought it was ridiculously underpriced," Annie said. "It was actually the only house that Zach's parents went and toured for us." At Zach's parents' encouragement, the couple decided to put in an offer for the house and ended up getting it. <div type="image" title="A cabinet in the corner of a living room." height="5712" width="4284" msid="113889825" hostid="261"></div>They preferred to keep the exact amount private but said they paid about 15% more than the original asking price of about £200,000, or about $265,000. "Budget-wise, our goal was always to try to not have this huge mortgage hanging over our head. It was something we felt we had in the States, especially in California, where house prices are crazy," Zach said. <h2>Getting settled into their home</h2>Zack and Annie are part of a wave of California residents who are choosing to leave the state. Between 2021 and 2022, 817,669 people left California — making it the <a target="_blank" class="" href="https://www.businessinsider.com/top-states-americans-are-moving-to-florida-texas-california-2023-10">US state with the most people moving out</a>. Several former residents that BI previously spoke to said rising crime rates and the high cost of living were factors in their decision to <a target="_blank" class="" href="https://www.businessinsider.com/reasons-why-californians-are-leaving-the-state">leave California</a>. <div type="image" title="The dining area and kitchen." height="4284" width="5712" msid="113889828" hostid="261"></div>Zack and Annie closed on the house in February, but only arrived in Scotland with their kids in May. Since the couple bought their house without viewing it in person, they were a little concerned that it would feel too small for their family of five. "We just moved from a pretty large four-bedroom house that's at least 2,000 square feet in the States to about 950 square feet in Scotland," Annie said. "That's a big change. But when we walked in, the rooms were all really nicely sized, and they just felt right." They spent about two months renovating the place while living with Zach's parents. It wasn't until late July that they finally moved into their new house. <div type="image" title="The dining area." height="1562" width="1179" msid="113889823" hostid="261"></div>"The kids never saw the house unfinished. The moment they stepped in the door, their room was decorated and they had their beds set up with all their toys on it," Annie said. "They walk in and they think everything's beautiful when we actually shed blood, sweat, and tears trying to make it a home, but it was definitely worth it." It's also really easy for the family to get around their neighborhood on foot. The main street of their town — where there are cafés, shops, and a grocery store — is only a 10-minute walk away, Annie said. "We have trails just outside our doorstep where the kids can go explore. There are beaches not too far away," she said, adding that there's no need for a car unless they're driving the kids to their grandparents' place. <div type="image" title="The bathroom." height="4032" width="3024" msid="113889821" hostid="261"></div>"It's a process to get every child loaded up in a car, so we wanted to reduce that as much as possible. And now we just walk to everything we do, and I feel we're healthier for it," she said. If they're ever feeling up for a small adventure, they can easily drive 20 minutes to the various small towns around them, Zach said. "Whereas in the States, if we wanted to go do something different or outside our little area, it's probably a 45-minute drive and then it becomes more of a day trip," he said. <h2>A simple life</h2>The couple says that life in Scotland is simpler — which is exactly what they were looking for. Even though they've only been here for a few months, the couple says they feel more content with life in Scotland — so much so that they even started a <a target="_blank" class="" href="https://www.youtube.com/@SimpleScottishLiving">YouTube channel</a> documenting their adventures in the country. <div type="image" title="A man and a woman gaze lovingly at each other in front of a stone building." height="632" width="843" msid="113889829" hostid="261"></div>Although the couple enjoyed living in the US, life in Scotland reminded them of their own childhoods. "Seeing what the children could get by being over here was sort of nostalgic. It brought us back to the '90s childhood we had," Annie said. "You go out and play until the streetlights turn on, and we just felt this sense of peace and safety in Scotland." Have you recently built or renovated your dream home? If you've got a story to share, get in touch with me at <a target="_blank" href="mailto:agoh@businessinsider.com">agoh@businessinsider.com</a>. Correction: An earlier version of this story misstated the converted dollar amount of the home's asking price. It was about $265,000, not $340,000.

You Searched For "Piramal Group share price" and got 5 results

After Adani, Hindenburg targets SEBI chief, she calls allegations baseless, character assassination

PTI

Delhi Capitals owners agree to buy major share in Hampshire takeover

PTI

The unsung warriors of 'The Price Is Right'

David Kushner

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

PTI

A California family of 5 found a house in Scotland listed for under $270,000. The catch: It was half the size of their old place.

Amanda Goh

Popular Keywords

Buying Guides