“Will Congress Apologise?” BJP After SEBI’s Clean Chit To Adani Group In Hindenburg Case

“Will Congress Apologise?” BJP After SEBI’s Clean Chit To Adani Group In Hindenburg Case

“Satya pareshan ho sakta hai par parajit nahi ho sakta”

The Securities and Exchange Board of India (SEBI) cleared the Adani Group of allegations made by US-based short-seller Hindenburg Research, saying it found no breach of regulatory norms by the group’s companies.

“I find that the allegations made against noticees in the SCN are not established. Considering the above, the question of devolvement of any liability on Noticees does not arise and hence the question of determination of quantum of penalty also does not require any deliberation,” Sebi’s whole-time Member Kamlesh Chandra Varshneya wrote in the order.

The regulator has also disposed of the instant proceedings against group companies Adani Ports, Adani Power, and it chairman Gautam Adani.

“Baseless claims”

Gautam Adani
Reacting to Sebi’s ruling, group chief Gautam Adani said that Sebi has reaffirmed what we have always maintained, that the Hindenburg claims were baseless.

“We deeply feel the pain of the investors who lost money because of this fraudulent and motivated report. Those who spread false narratives owe the nation an apology,” he added.