The Adani Group has been under close watch ever since allegations of market manipulation shook investor confidence in India. Regulators had been investigating claims that Gautam Adani and his companies unfairly influenced stock prices to benefit the group.
After months of review, the Securities and Exchange Board of India (SEBI) announced that it found no proof of wrongdoing. With this decision, SEBI has officially cleared Adani and his group of all charges related to market manipulation.
But the case does not end here. While Adani is free from these allegations in India, he is still facing an investigation in the United States. Reports say American authorities are looking into whether his companies paid around 250 million dollars in bribes to secure solar power contracts.
The results of the U.S. probe could have a major impact on Adani’s international reputation and business deals, even though he has been cleared at home.
