India’s Adani Group won relief from the Supreme Court on Wednesday when judges ruled that the company, hit hard by a U.S. short-seller’s allegations last year of improper business dealings, does not need to face additional investigation.
The Securities and Exchange Board of India (SEBI) has been investigating the group after Hindenburg Research’s report in January last year set off an over $150 billion selloff in the conglomerate’s stocks despite the company’s denials of wrongdoing. The stocks have since recovered partially.
