Gautam Adani Offers Prayers After SEBI Clean Chit In Hindenburg Probe

Adani Group Chairman Gautam Adani, accompanied by his wife, offered prayers at a Jain temple in Ahmedabad on Friday, a day after the Securities and Exchange Board of India (SEBI) gave the group a clean chit in the Hindenburg allegations probe.

A close aide told ANI that Adani chose gratitude over celebration after months of scrutiny. The couple lit a single diya and offered a silent prayer of 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 said.

Adani Demands National Apology

Following SEBI’s verdict, Gautam Adani demanded a ‘national apology’ from those who spread the Hindenburg Research report’s ‘false narratives’.

In a post on social media, he emphasised the group’s commitment to transparency and integrity while expressing empathy for investors who lost money due to the allegations.

Taking to X, he posted, “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!”

SEBI Clears Adani Group of Allegations

SEBI stated that the US-based short seller’s allegations of fund routing and related-party transactions were unsubstantiated. The regulator clarified that the impugned transactions did not qualify as ‘related party transactions’ under rules applicable at that time.

These transactions came under the definition only after the 2021 amendment to SEBI’s Listing Obligations and Disclosure Requirements (LODR).

The regulator confirmed that Adani Group did not violate disclosure norms, engage in fraudulent practices, or breach Section 12A of the SEBI Act. It also dismissed charges under the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations.

SEBI highlighted that the Supreme Court had earlier dismissed petitions seeking to challenge the regulatory framework. The court ruled that the procedures leading to SEBI’s regulations were not tainted with illegality and found no grounds to revoke the amendments.

Following SEBI’s findings, the proceedings concluded without penalties or directives against Adani Group entities or individuals. The ruling marks a major relief for the conglomerate, which faced months of intense scrutiny and market turbulence following Hindenburg Research’s allegations.

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