Jane Street barred from Indian markets as regulator freezes $566M

SEBI is prosecuting Adani now [0] (edit: correct link [1] - they are going after Adani Group's holding funds in Marutius). The previous chairperson of SEBI was unceremoniously canned this March for this incident and the Adani incident, and the current chairperson (Tuhin Kanta Pandey) cleaned up Indian SoEs during their privatization during Modi 2.

Edit: cannot reply below

Indian regulators won't settle with Adani Group. They have become a political liability due to how slapshot they played AND because the Bihar Elections are coming up, so skinning some goats (balli ka bakra) is a quick win - the RJD, INC, and TMC attacks on Modi+Adani are landing in Bihar and much of the rest of India.

Every Indian government does this - such as Kingfisher Group, Sahara Group, Gitanjali Group, etc.

Treat it the same way as Truong My Lan's case in Vietnam and Wanda Group's case in China.

[0] - https://www.reuters.com/sustainability/boards-policy-regulat...

[1] - https://www.reuters.com/sustainability/boards-policy-regulat...

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.

Indeed. 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.

“To my friends, everything; to my enemies, the law.”