**Adani Group Demands Accountability from Hindenburg Following $150 Billion Losses**

*By Akash Pandey | Sep 21, 2025, 05:26 PM*

The Adani Group is calling for accountability from Hindenburg Research after the US-based firm’s allegations led to a staggering loss of nearly $150 billion in shareholder value.

### SEBI Clears Adani Group of Violations

The Securities and Exchange Board of India (SEBI) recently concluded its investigation and cleared the conglomerate of any related-party violations under existing laws. A source close to the group questioned who would be held responsible for the massive losses suffered by millions of investors following Hindenburg’s report.

### Market Response: Stocks Rally After SEBI’s Clean Chit

Following SEBI’s ruling, the stocks of nine companies under the Adani Group witnessed gains ranging from 0.3% to 12.4%. Adani Power emerged as the biggest gainer, climbing 12.4% in stock price.

Despite this positive momentum, the combined market capitalization of these companies remains below ₹14 lakh crore, which is significantly lower than the pre-allegation peak of over ₹19 lakh crore.

### Regulatory Scrutiny Finds No Evidence of Wrongdoing

SEBI had launched a thorough investigation in 2023 in response to the Hindenburg allegations. The regulator found no evidence of fraud, market manipulation, or diversion of funds.

Additionally, a six-member committee appointed by the Supreme Court to examine the claims also cleared the Adani Group of any wrongdoing.

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The developments mark a crucial chapter in the ongoing saga between the Adani Group and Hindenburg Research, highlighting the impact of financial allegations on market valuations and investor sentiment.
https://www.newsbytesapp.com/news/business/adani-seeks-accountability-as-sebi-dismisses-hindenburg-allegations/story