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Adani gets Supreme Court relief on further probe over Hindenburg report

The Securities and Exchange Board of India (SEBI) initiated an investigation against the Adani business, led by billionaire Gautam Adani, after allegations made by Hindenburg Report Adani in January 2023 about stock manipulation and inappropriate use of tax havens.<br><br>

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Adani gets Supreme Court relief on further probe over Hindenburg report

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  1. ADANI GETS SUPREME COURT RELIEF ON FURTHER PROBE OVER HINDENBURG REPORT

  2. The Securities and Exchange Board of India (SEBI) initiated an investigation against the Adani business, led by billionaire Gautam Adani, after allegations made by Hindenburg Report Adani in January 2023 about stock manipulation and inappropriate use of tax havens.

  3. The verdict means the Adani Group is out of legal and regulatory turbulence, at least for the time being at least, according to the SEBI investigation. Under the supervision of the highest Court overseeing the SEBI investigation, the country's disclosure requirements regarding offshore funds were deemed to be adequate.

  4. Adani is required by Indian law to have 25% of its shares held by public shareholders in order to prevent price manipulation. However, Hindenburg Report Adani said that Adani had used its offshore shareholders to avoid this requirement. The Adani Group has said that it abides by all laws and rules.

  5. One point raised in the discussion around the Hindenburg Report Adani is the need for large firms to make transparency and good corporate governance their top priorities. As they expand their activities globally and have a greater impact on economic landscapes, companies must be honest to earn trust and credibility.

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