India, March 18 -- The Bombay High Court on Monday discharged Adani Enterprises Ltd and its promoters from a probe initiated by the Serious Fraud Investigation Office (SFIO) into allegations of share price manipulation and fraudulent stock market activities. SFIO is a statutory agency in India tasked with investigating corporate fraud.

The court ruled that the allegations did not meet the legal requirements for cheating under the Indian Penal Code (IPC), effectively exonerating the Adani Group and its promoters from the case.

The case dates back to 2012 when the SFIO filed a criminal case against Adani Enterprises Ltd (formerly Adani Exports Ltd) and its promoters, Rajesh Shantilal Adani and Gautam Shantilal Adani. The agency alleged th...