Hindenburg published a report on January 24, 2023, against Adani Group which alleged that Adani Enterprises and Adani Power Mundra (now merged with Adani Power) was funded by Milestone Tradelinks and Rehvar Infrastructure through Adani Infra (India) in FY 2020-21. Further, Hindenburg questioned the original source of funds of Milestone Tradelinks and Rehvar Infrastructure.

xMumbai : Securities and Exchange Board of India(Sebi) has dismissed US short seller Hindenburg Research's allegations of related party dealings against eight Adani Group entities including Group chairman Gautam Adani in its final 44 page order issued on Thursday.

The order passed by Sebi whole time member Kamlesh C. Varshney disposed of proceedings against Gautam Adani, Rajesh Adani, group CFO Jugeshinder Singh, Adan

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