SEBI concluded that there is no violation of listing agreement or SEBI (LODR) and the impugned transactions do not qualify as "related party transactions".
Adani Group stocks demonstrated resilience, with the group's market capitalisation down a mere 1.8 per cent, outperforming the broader Nifty's 0.7 per cent dip. Adani Enterprises saw a 1.9 per cent decline, while ACC fell just 0.3 per cent.
The application rejected by the Registrar of the apex court was to direct the Securities and Exchange Board of India (SEBI) to submit its conclusive investigation report on the allegations made by the Hindenburg against the Adani Group.
Hindenburg Research, the US-based short seller, has announced its decision to shut down operations, sparking a heated debate among experts. Founder Nate Anderson cited a desire to step back from the intensity of his work and focus on other aspects of life.
The founder of the US-based short seller Hindenburg Research, Nate Anderson, announced on Thursday that he has decided to close down the operations of his investigative firm.
The founder of the US-based short seller Hindenburg Research, Nate Anderson, announced on Thursday that he has decided to close down the operations of his investigative firm.
On Hindenburg Research's disbanding, Senior Advocate Mahesh Jethmalani said, " Either he has already been sounded out by investigating authorities in the US or he fears that he will be investigated for his role in the attempt to shake India's economy by bare hammering of Adani shares."
Congress MP Jairam Ramesh on Thursday stated that the closure of Hindenburg Research doesn't mean a clean chit for the Adani Group. He believed the matter goes far deeper, involving abuse of Indian foreign policy, misuse of investigative agencies, and capture of institutions like SEBI.
Rajya Sabha MP and Senior Advocate Mahesh Jethmalani on Thursday alleged that Hindenburg Research's disbanding signals deeper implications, suggesting possible scrutiny by U.S. authorities or fear of investigation for its role in targeting Adani Group shares.