"Supreme Court Directs Regulators to Conclude Adani-Hindenburg Probe as Shares Surge"
India's Supreme Court has declined to establish a new panel to investigate Hindenburg Research's allegations of fraud against Gautam Adani's companies, instead directing the Securities and Exchange Board of India (SEBI) to complete its ongoing investigation within three months. The court dismissed claims of a conflict of interest within the court-appointed panel and emphasized that investigations by third-party organizations like Hindenburg, which accused Adani of "the largest con in corporate history," cannot be considered conclusive evidence against SEBI's findings. Adani's firms experienced a significant market value loss following the allegations but have since seen a recovery in stock prices.