Allegations made by the US-based short seller Hindenburg Research against the Adani Group sparked a political row in the country back in 2022. The allegations questioned the role of the Securities and Exchange Board of India (SEBI) after Hindenburg claimed that the Adani Group violated Sebi norms regarding minimum public shareholding as promoter shareholding had exceeded the 75% limit.  Now Sebi has sent a show cause notice to Adani group while alleging that certain promoter group entities were wrongfully classified as public shareholders. On October 22 the Adani Energy solutions itself revealed in its September quarter results that a show cause notice was sent by the Sebi.  Above all the disclosure comes at a time when the incumbent Sebi chief Madhabi Puri Buch is nearing the end of her term and the Centre may soon issue an advertisement inviting applications for the position before the winter session of Parliament.  Infosys founder promoter NR Narayana Murthy had set an example by taking the process of reclassification of the entity of promoter to public category. After demitting the office in 2014 Murthy was the one who asked the Infosys board to reclassify its holding in the company to public category. He was of the view that it brings more responsibility and paves way to catch any misdemeanour of management under the purview of law.