SEBI Clears Adani: A Vindication Amid Hindenburg Controversy
SEBI's decision to clear Adani Group of alleged misconduct in the Hindenburg case has been welcomed by legal experts. The order is expected to be durable and enhance Adani's market credibility. The Hindenburg allegations, seen as part of an international conspiracy, are now laid to rest, reinforcing India's regulatory integrity.
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The Securities and Exchange Board of India (SEBI) has exonerated the Adani Group in a case related to allegations by Hindenburg Research. Esteemed legal professionals have praised the decision, describing it as thorough and resilient, marking a crucial step in resolving the ongoing controversy.
Senior advocate Amit Desai highlighted the strength of SEBI's 'well-reasoned order,' expressing confidence that any appeals are unlikely to succeed. He emphasized that the ruling removes doubts surrounding the Adani Group, thus reinforcing its credibility in the market. Advocate Vijay Agarwal noted Hindenburg's admissions of short-selling, arguing that the matter is now conclusively settled.
Furthermore, advocate Nitin Meshram criticised the Hindenburg Report as a tactic to destabilize India's economy, pointing to SEBI's findings and the Supreme Court's dismissal of further investigations. Advocate Ishkaran Bhandari added that foreign interests targeted an Indian businessman, contrasting this with the protection of entrepreneurs in the US.
Reacting to the order, Adani Group Chairman Gautam Adani reiterated the company's stance on transparency and integrity, declaring the Hindenburg claims baseless. Adani urged those responsible for spreading falsehoods to apologize to the nation. The SEBI decision solidifies the regulatory framework and supports economic growth.
(With inputs from agencies.)
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