Mumbai: The Securities and Exchange Board of India (SEBI) has cleared the Adani Group in the high-profile Hindenburg case, stating in its final order that the allegations against the conglomerate could not be substantiated. According to the report, there was no evidence of regulatory violations, market manipulation, or insider trading by the group.
The ruling provides significant relief to Gautam Adani, his brother Rajesh Adani, and several Adani entities, including Adani Ports, Adani Power, Adicor Enterprises Limited, and Adani Ports and Special Economic Zone Limited.
The controversy began when U.S.-based short-selling firm Hindenburg Research accused Gautam Adani and his group of stock manipulation. However, SEBI’s investigation found no credible evidence to support these claims, effectively dismissing all allegations made by Hindenburg Research.
