Adani Group Chairman Gautam Adani, along with his wife, visited a Jain temple in Ahmedabad to offer prayers, a day after SEBI cleared the Adani Group in the Hindenburg allegations probe. A close associate told ANI that following the Hindenburg controversy and months of speculation, Adani opted for gratitude rather than celebration. At the temple, the couple lit a single diya and silently expressed their thanks.
“For the Adani family, this was more than regulatory relief — it symbolised the triumph of good over evil, a quiet victory of grit, faith, and resilience,” the aide added.
#WATCH | Adani Group Chairman Gautam Adani, accompanied by his wife Priti Adani, offered prayers at a Jain temple in Ahmedabad a day after SEBI gave a clean chit to the Adani Group.
A close aide told ANI that in the aftermath of the Hindenburg storm and months of speculation,… pic.twitter.com/LmujnEL1T6
— ANI (@ANI) September 20, 2025
Adani Group Chairman on Thursday demanded a “national apology” from those who spread the “false narratives” of Hindenburg Research.
Securities and Exchange Board of India (SEBI) gave a clean chit to the Adani Group regarding their “baseless” allegations of violating disclosure norms or constituting fraudulent practices.
In a post on X, Gautam Adani emphasised the group’s commitment to transparency and integrity, expressing empathy for investors who lost money due to the report.
“After an exhaustive investigation, SEBI has reaffirmed what we have always 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 because of this fraudulent and motivated report. Those who spread false narratives 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!” Gautam Adani said in a post on X.
The US-based short-seller had alleged fund routing to conceal related-party transactions, sparking significant market volatility and impacting Adani Group’s market value. The clean chit brings significant relief to the Adani Group, ending months of scrutiny.
On Thursday, the market regulator dismissed the allegations made by US short-seller Hindenburg against the Adani Group. SEBI found no violations of the listing agreement or SEBI Listing Obligations and Disclosure Requirements (LODR) and ruled that the disputed transactions do not qualify as “related party transactions.”
SEBI clarified that under the Listing Agreement and SEBI (LODR) Regulations at the time the transactions occurred, dealings between a listed company and an unrelated party were not considered “related party transactions,” a classification that was only explicitly included after the 2021 amendment.
SEBI stated that the Supreme Court had dismissed the petitioner’s plea, affirming that the process followed in framing the current regulations was free from any illegality. The Court also noted that no valid grounds existed to direct SEBI to revoke its amendments to the SEBI (LODR) Regulations.
SEBI added that there was no violation of Section 12A of the SEBI Act or the SEBI (Prohibition of Fraudulent and Unfair Trade Practices in the Securities Market) (PFUTP) Regulations, as alleged. The regulator concluded that no fraud, misrepresentation, or fund siphoning was established, and all funds had been returned with interest.
SEBI further stated that no liability or penalties were imposed on Adani Group entities or individuals, and the proceedings were closed without any directions.
With inputs from ANI
Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
