Hindenburg Case: SEBI Clean-Chit For Adani Group | Read
Markets regulator Securities and Exchange Board of India (SEBI) has dismissed allegations of "related party dealings" levelled by US short seller Hindenburg Research against Adani Group Chairman Gautam Adani and the group's companies, including Adani Enterprises, Adani Ports and Adani Power.
In January 2021, Hindenburg Research had alleged the group had used three companies - Adicorp Enterprises, Milestone Tradelinks, and Rehvar Infrastructure - to route money between Adani group firms.
Laying out its conclusions in two orders, SEBI said there were no violations, noting that the transactions took place at a time when such dealings with unrelated parties did not qualify as related party dealings. The definition was changed after an amendment in 2021.
