In corporate affairs, the Adani Group stands as a titan, with its reach spanning diverse sectors from energy to infrastructure. Yet, amidst its prominence, the conglomerate repeatedly finds itself facing controversy. The latest reports disclose that not only did seven of its ten listed entities acknowledge receiving show cause notices from India’s market regulator, SEBI, for various violations, but the group’s flagship company, Adani Enterprises, and others like Adani Green Energy faced scrutiny over non-compliance with listing and related party transaction norms. Despite these allegations, the companies maintain that there was no significant impact on their financial statements. However, this disclosure comes in the backdrop of persistent scrutiny, including accusations by US-based short seller Hindenburg Research in January 2023, alleging stock manipulation and accounting fraud, contentions that Adani vehemently refuted.