Adani’s Regulatory Risks Not Over as Other Probes Continue (1)

Gautam Adanihailed Indian market regulator’s twin orders late on Thursday, saying in an X postthese “reaffirmed what we have always maintained, that the Hindenburg claims were baseless.”

But the regulator has not yet completed every probe triggered by the US short-seller’s bombshell report in 2023.

The Securities and Exchange Board of India, or Sebi, is still investigating some accusations leveled by Hindenburg Research against the Adani Group,according to people familiar with the matter, signaling that the conglomerate received only a partial reprieve with Thursday’s orders.

Sebi dismissed allegations of impropriety in two probes saying it found ...