https://sputniknews.in/20250924/adani-hits-back-on-us-short-seller-attack-only-strengthened-us-further-9816530.html
Adani Hits Back on US Short-Seller Attack: Only Strengthened Us Further
Adani Hits Back on US Short-Seller Attack: Only Strengthened Us Further
Sputnik India
Indian billionaire businessman Gautam Adani has told his shareholders in a letter that the clean chit by the Indian market regulator SEBI has strengthened the group further rather than weakening it.
2025-09-24T18:14+0530
2025-09-24T18:14+0530
2025-09-24T18:14+0530
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Indian billionaire businessman Gautam Adani has told his shareholders in a letter that the clean chit by the Indian market regulator SEBI has strengthened the group further rather than weakening it.Adani highlighted that the group's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) had risen by almost 57% between FY 2023 and FY 2025, currently around $10 billion.The allegations against Adani by Hindenburg in January 2023 had led to the biggest stock market crash in Indian corporate history, wiping off around $150 billion in market value and igniting a massive political storm in the country.The Indian businessman stated that the allegations marked the beginning of the test for the company. Last January, SEBI began probing the charges against Adani, instituting 13 cases involving charges of breaching shareholding norms, using foreign portfolio investors to manipulate stock prices and insider trading among others.
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Adani Hits Back on US Short-Seller Attack: Only Strengthened Us Further
Gautam Adani has demanded a "national apology" from the disbanded US shortseller Hindenburg Research following a clean chit from the Securities and Exchange Board of India (SEBI), which has cleared the Indian conglomerate's promoters of stock prices manipulation charges.
Indian billionaire businessman Gautam Adani has told his shareholders in a letter that the clean chit by the Indian market regulator SEBI has strengthened the group further rather than weakening it.
"The Securities and Exchange Board of India (SEBI) delivered a resounding and unequivocal verdict dismissing the allegations against us. With SEBI’s clear and final word, truth has prevailed... What was meant to weaken us has instead strengthened the very core of our foundations," the 63-year-old businessman wrote in the letter.
Adani highlighted that the group's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) had risen by almost 57% between FY 2023 and FY 2025, currently around $10 billion.
He said that the regulator's findings were more than just a "regulatory clearance". "...it is a powerful validation of the transparency, governance and purpose with which your company has always operated. And the truest evidence of our resilience lies not in words, but in performance over this period," he said.
The
allegations against Adani by Hindenburg in January 2023 had led to the biggest stock market crash in Indian corporate history, wiping off around $150 billion in market value and igniting a massive political storm in the country.
"January 24, 2023, will be remembered as a morning when India’s markets awoke to headlines that reverberated far beyond Dalal Street. Hindenburg’s report was not merely a critique of your Adani Group. It was a
direct challenge to the audacity of Indian enterprises to dream on a global scale," Adani said.
The Indian businessman stated that the allegations marked the beginning of the test for the company.
"It questioned our governance, our purpose and even the very idea that Indian companies could dare lead the world in scale and ambition," he said.
Last January, SEBI began probing the charges against Adani, instituting 13 cases involving charges of breaching shareholding norms, using foreign portfolio investors to manipulate stock prices and insider trading among others.
