Adani Vindicated: SEBI Exonerates Amid Hindenburg Allegations

Gautam Adani, emboldened by SEBI's clean chit, asserts that claims made in Hindenburg Research's report were groundless. SEBI cleared Adani Group of stock manipulation allegations. Adani calls for an apology from those spreading false narratives and reaffirms commitment to India's development.

India's billionaire Gautam Adani, buoyed by a clearance from the Securities and Exchange Board of India (SEBI), has called for an apology from those spreading false narratives against his conglomerate. SEBI's decision comes after extensive investigations into stock manipulation allegations triggered by U.S. short-seller Hindenburg Research.

In a post on the social platform X, accompanied by the national tricolor, Adani emphasized that his group has always maintained the baseless nature of Hindenburg's claims. Reaffirming transparency and integrity as the Adani Group's core values, he believes the report was both fraudulent and motivated.

The Hindenburg report earlier this year had caused a significant market plunge, with Adani group companies losing up to USD 150 billion in value. Adani expresses solidarity with affected investors and reiterates his unwavering commitment to India's institutions, its people, and nation-building, signing off with 'Satyamev Jayate! JAI HIND!'

(With inputs from agencies.)