Gautam Adani has outlined the Adani Group's next phase of growth after the Securities and Exchange Board of India (SEBI) cleared it of allegations levelled against it by Hindenburg Research.

In a message to employees, the Adani Group chairperson said the group would now accelerate innovation, strengthen transparency and build for long-term value.

"Today, a cloud that had hung over us for more than two years has been lifted," Mr Adani said, as per news agency PTI. "SEBI's comprehensive investigation has concluded by rejecting all allegations contained in the Hindenburg report from January 2023."

Acknowledging the strain on employees and their families, Mr Adani likened the controversy to an "agnipariksha" (trial by fire) and urged them to see the past three years as "the spark that built a greater Adani."

He delivered his message against a digital background featuring the Gandiva bow from the Mahabharata. The bow was wielded by Arjuna, one of the five Pandava brothers, during the Kurukshetra war. It is believed to have been created by the gods and gifted to Arjuna by Agni, the fire god, making it a divine instrument of war.

In January 2023, a Hindenburg report accused the Adani Group of stock manipulation, accounting irregularities, and routing funds through offshore entities, wiping out over $150 billion in market value. 

Source:Ndtv