In Brief
The allegations made by Hindenburg Research against the Adani Group were finally proven false.
The Securities and Exchange Board of India (SEBI) issued a public order on Thursday.
It was clarified that no evidence of stock manipulation or misconduct was found against the Adani Group.
Gautam Adani : The allegations made by Hindenburg Research against the Adani Group have ultimately been proven false. In an order released by the Securities and Exchange Board of India (SEBI) on Thursday, it has been clarified that no evidence of stock manipulation or misconduct was found against the Adani Group. This has provided significant relief to the group, and the matter has concluded with SEBI's clean chit.
SEBI stated in its investigation that the Adani Group did not violate any rules. Transactions with unrelated companies cannot be considered incorrect under the rules of that time, as that definition only came into effect from 2021. Additionally, the loans taken by the group have been repaid, and the claim of fund diversion was proven false. Therefore, it was clarified that no fraud or unfair practices occurred.
After SEBI's decision, industrialist Gautam Adani reacted. He said, “The thorough investigation has proven that all of Hindenburg's allegations were baseless. The Adani Group has always stood for transparency and integrity. We understand the pain of the investors who had to bear losses due to this false report. Those spreading such rumors should apologize to the country.” He ended his post with the words “Truth alone triumphs, Jai Hind.”
Earlier, Hindenburg had released a 106-page report accusing the Adani Group of artificially inflating stock prices, engaging in malpractice with the help of bogus companies, and excessively inflating debt. This report led to a significant drop in the group's company shares, causing losses for investors.
But now SEBI's investigation has clarified the situation. With all allegations proven false, the Adani Group has received significant relief, and it is expected that the company's future investment environment will also receive a positive direction following these developments.