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Kotak Mahindra International (KMIL) and K-India Opportunities Fund (KIOF) have stated that Hindenburg has never been a client of the firm nor has it ever been an investor in the fund.
“The fund was never aware that Hindenburg was a partner of any of its investors. KMIL has also received a confirmation and declaration from the fund’s investor that its investments were made as a principal and not on behalf of any other person,” a spokesperson of KMIL said.
KIOF, a Mauritius-based, Sebi-registered foreign portfolio investor, was the fund structure used by US-based asset manager Kingdon Capital to build short positions in Adani Enterprises.
KIOF is one of the recipients of Sebi’s show-cause notice in the Adani short-selling matter issued on June 26, 2024.
(Disclaimer: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd)
First Published: Jul 02 2024 | 6:58 PM IST
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