NEW DELHI, Sep 18 : The Securities and Exchange Board of India (SEBI) has cleared Adani Group and its associate entities from the allegations raised by US short-seller Hindenburg Research, an official order said today.
The Hindenburg report alleged that the Adani Group had used three companies -Adicorp Enterprises, Milestone Tradelinks and Rehvar Infrastructure – as channels to supply money between Adani Group firms.
Welcoming the clearance given by SEBI, Gautam Adani, chairman, Adani Group posted on X “After an exhaustive investigation, SEBI has reaffirmed what we always have maintained, that the Hindenburg claims were baseless. Transparency and integrity have always defined the Adani Group. We deeply feel the pain of the investors who lost money in this fraudulent and motivated report. Those who spread the false narrative owe the nation an apology.”
“Our commitment to India’s institutions, to India’s people and to nation building remains unwavering. Satyamev Jayate! JAI HIND! ” the post added.
Hindenburg Research LLC, US investment research firm with a focus on activist short-selling, was founded by Nathan Anderson in 2017.
(UNI)
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