Divya Delhi: SEBI sent Hindenburg Research a 46-page show cause notice on June 27 for its Adani report. According to a SEBI show cause notice highlighted in a July 2 blog post by US-based Hindenburg Research, its only investor relationship for the Adani thesis generated $4.1 million in gross revenue from Adani shorts gains. Although their short position on Adani US bonds was tiny, the business profited $31,000.See also: Hindenburg calls Sebi show-cause notice 'nonsense' and 'concocted' Media reports claimed Hindenburg had numerous investor partners who profited hundreds of millions, according to the site. The SEBI show cause notice emphasized that Hindenburg only had one investor relationship for the Adani thesis, which is typical of the firm. Hindenburg stressed that their work on Adani is the most rewarding, even if they break even after legal and research costs. The site emphasized that the research was never financially justified and incurred substantial personal danger, but it is their most proud accomplishment. Kotak bank managed offshore fund that partner shorted Adani stocks, says Hindenburg. SEBI sent Hindenburg Research a 46-page show cause notice on June 27 for its Adani report. The blog post stated that Hindenburg had freely declared its short position on Adani shares to allow readers to examine any bias, given the firm's advantage from a decrease. Investment gurus on Moneycontrol.com share their own opinions and suggestions, not the website or its administration. Moneycontrol.com urges investors to consult authorized specialists before investing.