‘Feel the pain of investors who have lost money’: Gautam Adani says after Sebi Clean Chit

Gautam Adani radiated lighting after more than two years of regulatory test, on Thursday said Sebi put an end to the procedure against the group was a re -confirmation “of what the conglomerate had maintained from the start – the claims were” unfounded “

Earlier today, the supervisor ended his probe in allegations against the group fueled by the short-seller Hindenburg investigation based in the US.

“Transparency and integrity have always defined the Adani group,” Adani said in a post on X, adding that he feels deeply the pain of investors who have lost money because of a fraudulent and motivated report. “Those who spread false stories owe the nation an apology.”

In January 2023, Hindenburg Research issued a destructive report in which the Adani Group of Stock manipulation, the accounting irregularities and the use of offshore entities are accused of blowing up ratings.

The report led to an enormous sale from Adani companies, so that more than $ 100 billion in market value was wiped out at the height of the routes.

The controversy also led to questions in parliament, multiple processes and a Supreme Court-MONTY SAME in the transactions of the group. And wanted to rebuild the confidence of investors.

The closure of Thursday of Sebi’s research effectively marks the end of one of the most controversial sagas of corporate governance in the Indian markets in recent memory. The clean chit would facilitate the concern of both domestic and foreign investors who had stayed on the sidelines.

However, it does not end the group’s investigation. Some other cases related to bribery and overseas investments are still being investigated.

American prosecutors accused Adani of bribing Indian officials last year to convince them to buy electricity produced by Adani Green Energy, a subsidiary of his Adani Group.

Gautam Adani repeated that the group is committed to the institutions of India and ‘nation structure’.