Sebi Clears Adani Group of Allegations by Hindenburg Research
The Securities and Exchange Board of India (Sebi) exonerated the Adani Group and its Chairman Gautam Adani from allegations made by Hindenburg Research, which claimed the Group had used several entities to hide related party transactions. Sebi's investigation found no violations, affirming that subsequent repayments nullify any fraud claims.
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The Securities and Exchange Board of India (Sebi) has officially cleared the Adani Group and its founder Gautam Adani of accusations put forth by Hindenburg Research.
The accusations involved allegations of money routing through several companies to disguise related party transactions, which Sebi confirmed were not breaches as per definitions at the time.
The regulator noted that all loans were repaid with interest and concluded that no fraudulent activity or unfair trade practices occurred, leading to the dismissal of all proceedings against the Adani Group.
(With inputs from agencies.)
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