Adani seeks accountability as Sebi dismisses Hindenburg allegations

Adani Group demands accountability after SEBI cleared it of Hindenburg's charges that triggered a $150 billion market loss and rattled investor confidence in 2023

The Adani Group is pushing for accountability against Hindenburg Research after the US firm’s allegations wiped out almost $150 billion in shareholder value in 2023 before being dismissed by regulators, as per top group sources.

 

“With Sebi’s (Securities and Exchange Board of India’s) orders behind us, the real question is who will hold Hindenburg responsible for the losses inflicted on millions of investors,” a person close to the Adani Group said, asking not to be identified.

 

The Sebi last week gave the conglomerate a clean chit, ruling out related-party violations under the laws then in force.