US EditionSEBI clears Adani Group, Gautam Adani of Hindenburg-linked allegations
SEBI found no violations of related party transaction rules by Adani Group amid a $150 billion market value loss triggered by Hindenburg's allegations.
- The Securities and Exchange Board of India cleared the Adani Group of allegations raised by Hindenburg Research regarding fund routing through three entities.
- In two orders, SEBI stated that no liability could be established against the Adani Group and imposed no penalties.
- SEBI found that transactions did not qualify as related-party dealings and confirmed no funds were siphoned off, indicating no fraud had occurred.
- Gautam Adani remarked that SEBI reaffirmed the Adani Group's position, stating the Hindenburg claims were baseless and lamented the impact on investors.
15 Articles
15 Articles
Following the clean chit from SEBI, Adani Group Chairman Gautam Adani said, "This is a victory for truth. All of Hindenburg's claims were baseless. Transparency and honesty have been the hallmarks of the Adani Group."
SEBI clears Adani Group in allegation linked to Hindenburg report
The Securities and Exchange Board of India on Thursday cleared the Adani Group in connection with an allegation raised by United States-based Hindenburg Research that the conglomerate routed funds through three entities to hide related-party transactions.In two separate orders, the markets regulator said that allegations against the Gautam Adani-owned conglomerate could not be established. It said that “there was no question” of devolvement of a…
SEBI clears Adani Group, Gautam Adani of Hindenburg-linked allegations
In two separate orders, SEBI found no violations, noting that at the time such transactions with unrelated parties did not qualify as related party dealings (the definition was expanded only after a 2021 amendment).
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