"Supreme Court Ruling Favors Adani, Directs Swift End to Probe Amidst Hindenburg Allegations"
The Supreme Court of India has directed the Securities and Exchange Board of India (SEBI) to conclude its investigation into the Adani Group within three months, stating that the investigation cannot remain open-ended. This follows allegations by Hindenburg Research of stock manipulation and accounting fraud against the conglomerate. Gautam Adani, the head of the Adani Group, expressed relief at the court's decision, stating "truth has prevailed." Shares of Adani Group companies rose following the ruling, despite the group having previously lost significant market value after the Hindenburg report. Adani, once the second-richest person globally, now ranks 15th on the Bloomberg Billionaires Index.