Adani Group Gets a Clean Chit by SEBI in Hindenburg Loans Transactions Case

The Securities and Exchange Board of India (SEBI) has given the Adani Group a clean chit in connection with fund manipulation allegations made by Hindenburg Research against the conglomerate.

In its final order, SEBI has found that the loans in FY 2018-2019 and 2022-2023 were genuine and were fully repaid with interest. It was also found that the transactions did not fall within the definition of related party transactions under the regulatory framework in force during the period of investigation.

In 2023, Hindenburg Research published a report alleging that certain Adani enterprises had been funded by MTPL and RIPL through Adani Infra Ltd. in FY 2020–21. The report also questioned the source of funds of MTPL and RIPL.