Mumbai, Sept. 18 -- In a victory for the Adani Group, the Securities and Exchange Board of India (SEBI) has closed its investigation into the allegations made by US short-seller Hindenburg Research.

According to a statement from the Adani Group, the final order exposed the falsity of the claims widely amplified by the short-seller.

India's market regulator SEBI concluded that the Adani Group "did not violate any rules by routing funds through two private firms, effectively dismissing claims of hidden related party transactions and fraud."

The probe, which was prompted by a Supreme Court directive following the Hindenburg report in January 2023, centred on transactions between publicly listed Adani companies--Adani Ports and Special Eco...