The report of Hindenburg Research on January 24, 2023, had shaken the Adani Group. In the report, many serious allegations were made against the Adani Group. A year after the report, Adani Group Chairman Gautam Adani wrote a letter to The Times of India. In this, he said that this experience has taught the company an important lesson.
Adani wrote that lies and baseless allegations against us were nothing new. So after releasing the detailed answer I didn’t think anything more about it. Adani also said that the performance of our companies shows that the allegations were baseless.
SEBI is investigating the matter:
On January 24, 2023, Hindenburg Research had leveled allegations against Adani Group ranging from money laundering to share manipulation. The Supreme Court had formed a 6-member committee to investigate the case. Apart from this, market regulator SEBI was also asked to investigate. On 24 November 2023, the Supreme Court had reserved the decision. It was said that there was no need to accept Hindenburg’s report as correct.
On January 3, the Supreme Court gave SEBI 3 more months to investigate the remaining 2 cases. SEBI has completed an investigation in 22 out of 24 cases.
