Billionaire Gautam Adani Cleared Of Stock Manipulation Claims
ForbesSEP 17
Indian Regulator Clears Adani of Hindenburg Fraud Allegations
Above: Gautam Adani during in Ahmedabad, Gujarat, India, on May 25, 2024. Image copyright: Sumit Dayal/Bloomberg/Getty Images
The Spin
Pro-establishment narrative
SEBI's exhaustive probe has vindicated India's institutional integrity against predatory short-selling attacks. After thorough examination, the regulator found no evidence of fraud, manipulation, or misconduct, exposing Hindenburg's allegations as a calculated assault on Indian enterprise. This restores market confidence and exposes foreign financial terrorism.
Establishment-critical narrative
SEBI’s clean chit to Adani reeks of institutional failure, not regulatory rigor. Observers call its handling of the Hindenburg scandal “a textbook example of how not to act,” exposing silence, conflicts, and compromised oversight. By shielding the powerful while dismissing credible allegations, SEBI has shredded its own credibility and imperiled investor trust.