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The proceedings stemmed from SEBI's examination into allegations and corporate governance issues highlighted in a Hindenburg Research report, including possible violations of listing regulations.

The Hindenburg report, released in January 2023, accused the Adani Group of stock manipulation and weak disclosure practices.

The sharp upmove reflects renewed investor confidence as regulatory risk around some of the most damaging allegations has eased.

In a final order dated September 18, 2025, SEBI concluded that the allegations were "not established" and issued no punitive directions.

Anderson, known for meticulously detailed reports against companies he alleged were committing fraud, last month announced shutting down his forensic research firm nearly eight years after he founded ...

Congress accuses Adani Group of irregularities across various sectors, including misuse of investigative agencies and government favouritism