Hindenburg had accused the Adani Group of using its group companies — Adicorp Enterprises Pvt Ltd, Milestone Tradelinks Pvt Ltd and Rehvar Infrastructure Pvt Ltd — as conduits to route funds from various Adani Group companies to finance publicly listed Adani Power Ltd and Adani Enterprises Ltd

Market regulator Securities and Exchange Board of India’s (Sebi) order clearing the Adani Group of stock manipulation charges levelled by US short-seller Hindenburg Research has ended a two-year-long ordeal for the Indian conglomerate.

Hindenburg had accused the Adani Group of using its group companies — Adicorp Enterprises Pvt Ltd, Milestone Tradelinks Pvt Ltd and Rehvar Infrastructure Pvt Ltd — as conduits to route funds from various Adani Group companies to finance publicly listed Adani Power Lt

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