Hindenburg issued a 106-page report on the Adani Group and flagged material stock price manipulation and accounting fraud scheme over the past decade. — Reuters
UNDER the Capital Market and Services Act, 2007 (CMSA), offences related to market manipulation are found under Section 176.
According to Section 176(1), subject to section 180, no person shall effect, take part in, engage in, be concerned in, or carry out, either directly or indirectly, any number of transactions in securities of a corporation, being transactions that have, or are likely to have, the effect of raising; lowering; pegging, fixing, maintaining, or stabilising; the price of securities of the corporation listed on a stock market in Malaysia, for the purposes which may include the purpose of inducing other persons, whether or not another person is induced, to acquire or dispose of the securities of the corporation or related corporation.
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