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SEBI Final Order Clears Adani Group In Hindenburg Case, Finds No Merit In Allegations

The regulator imposed no penalty, and cleared Adani Ports, Adani Power and Adani Enterprises of any liabilities.

Adani Enterprises
Adani Group company's logo seen in file picture (Photo: Vijay Sartape/NDTV Profit)
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The Securities and Exchange Board of India on Thursday said in its final order that allegations on the Adani Group over the Hindenburg case could not be established.

The regulator imposed no penalty, and cleared Adani Ports & Special Economic Zone Ltd., Adani Power Ltd., and Adani Enterprises Ltd., of any liabilities. Rajesh Adani and Gautam Adani were also cleared. No liabilities were found on Jugeshinder Singh, Milestone Tradelinks Pvt. Ltd. and Rehvar Infrastructure Pvt. Ltd.

As per the SEBI order, no violation was found on account of related-party transactions. The market watchdog also found no manipulative transactions or unfair trade practices.

(This is a developing story)

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