SEBI Clears Adani Group of Hindenburg Allegations
The Securities and Exchange Board of India (SEBI) has dismissed allegations made by Hindenburg Research against the Adani Group. The regulator found no evidence that transactions routed through Adicorp Enterprises, Milestone Tradelinks, or Rehvar Infrastructure violated disclosure norms or related-party rules.
Scope of Orders
The clearance covers Adani entities such as Adani Ports and Adani Power. SEBI clarified that the questioned transactions were with parties that, under the rules at the time, did not qualify as related parties. The related-party framework was revised in 2021, but the earlier transactions complied with the then-existing regulations.
Outcome and Reactions
With no violations found, SEBI has closed proceedings and imposed no penalties. Gautam Adani welcomed the orders, stating they vindicate the group’s position. He also demanded accountability from those who, he said, spread a false narrative about the conglomerate’s business practices.
