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Hindenburg Research says if Adani Group files a lawsuit, it will demand documents from the company.

image source-Millenium Post   Adani Group has announced that it is considering legal action against Hindenburg Research, a US-based investment research firm, for its recent report on the Indian conglomerate. In response, Hindenburg has stated that it fully stands by its report and believes any legal action taken against them would be without merit. The report, which was released this week, alleged that Adani Group had used undisclosed related-party transactions and earnings manipulation to "maintain the appearance of financial health and solvency" of its listed business units. The firm also stated that they would welcome any legal action taken by Adani Group and would use the discovery process to demand documents.
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Tata Group Considers Stake Repurchase from Temasek as Tata Play IPO Plans Under Evaluation

The Tata Group is currently considering an offer to repurchase a stake in its entertainment content distribution platform from Temasek Holdings Pte. This move comes as the conglomerate contemplates the possibility of delaying the IPO of Tata Play Ltd. The group has initiated talks with Temasek regarding a potential agreement that would allow the Singaporean state investor to exit its long-standing investment in the platform, which was previously known as Tata Sky. Temasek currently owns around 20% of the content distribution platform.


Tata Play, a joint venture between the Tata Group and Walt Disney Co.'s Twenty-First Century Fox Inc., offers pay television services through set-top boxes and over-the-top video streaming via its app. Recently, Tata Play received regulatory approval to proceed with its IPO, which would have been the first public listing for a Tata Group business since Tata Consultancy Services Ltd.'s IPO in 2004.


While Tata Group and Temasek are engaged in talks, the decision could still go in a different direction. Tata Play may still choose to proceed with the IPO if market conditions improve. In 2022, Tata Play had filed confidentially with the Securities and Exchange Board of India (SEBI), making it the first company to submit IPO documents without publicly disclosing sensitive information.


Established in 2001, Tata Play has expanded its services beyond traditional pay television and PVR offerings. It launched Tata Play Binge, an OTT streaming service accessible through various devices such as Amazon Fire TV Stick, Tata Play Binge Smart Set Top Box, Android TV, and its mobile app. With a presence across India, Tata Play boasts 23 million connections.


Temasek initially invested in Tata Sky (now Tata Play) in 2007. The ongoing discussions between the Tata Group and Temasek will determine the future direction of their investment relationship.

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