Thu Sep 18 13:20:46 UTC 2025: Here’s a summary of the provided text and a rewritten version as a news article:

**Summary:**

The Securities and Exchange Board of India (SEBI) has cleared the Adani Group and its Chairman Gautam Adani of allegations made by Hindenburg Research in January 2021. Hindenburg had accused Adani Group of using three entities to route funds and hide related party transactions. SEBI found no violations, stating that the transactions, at the time, did not meet the definition of related party dealings and that the loans were repaid with interest, showing no evidence of fraud or unfair trade practices. All proceedings against the Adani Group have been dropped as a result.

**News Article:**

**SEBI Clears Adani Group of Hindenburg Allegations**

*Mumbai, September 18, 2025* – The Securities and Exchange Board of India (SEBI) today cleared the Adani Group and its Chairman, Gautam Adani, of allegations leveled by U.S.-based Hindenburg Research in a report released in January 2021. The regulator’s decision, announced in two separate orders, effectively ends a lengthy investigation into claims that the Adani Group used three companies – Adicorp Enterprises, Milestone Tradelinks, and Rehvar Infrastructure – to route funds and obscure related party transactions.

Hindenburg had alleged that this practice enabled the Adani Group to circumvent regulations and potentially mislead investors.

However, SEBI’s investigation concluded that the transactions in question did not constitute related party dealings under the regulations in place at the time, prior to a 2021 amendment. Furthermore, the regulator found no evidence of fraudulent activity, noting that the loans were repaid with interest and that no funds were siphoned off.

“Accordingly, all proceedings against the Adani Group have been dropped,” a SEBI statement confirmed.

The decision is expected to have a significant impact on investor confidence in the Adani Group and its future prospects.

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