Digest for 19 September, 2025
SEBI Clears Adani Group of Hindenburg's Related-Party Transaction Allegations
The Securities and Exchange Board of India (SEBI) has cleared Gautam Adani and Adani Group entities of allegations made by Hindenburg Research regarding illicit fund routing through related parties. In its final orders, SEBI concluded that the challenged transactions did not qualify as related-party dealings under the regulations applicable at the time. The regulator found no evidence of fraud or siphoning of funds, noting that loans were repaid with interest, and has consequently dropped all related proceedings against the conglomerate.
US Revokes Visas of Indian Executives Over Fentanyl Trafficking Links
The U.S. Embassy in New Delhi has revoked visas for several Indian business executives and corporate leaders allegedly involved in trafficking fentanyl precursors. This action is part of a broader U.S. effort to combat the flow of synthetic narcotics. The embassy stated that the individuals, their companies, and their families will face consequences, including being denied access to the United States. The move follows the indictment of two Indian chemical companies by the U.S. Department of Justice earlier this year.
India's New Online Gaming Law to Take Effect From October 1
The Indian government has announced that the Promotion and Regulation of Online Gaming Act will be implemented from October 1. The law, passed last month, effectively bars all forms of online games involving real money while promoting e-sports. Information and Technology Minister Ashwini Vaishnaw confirmed the date, noting that the government has finalized the rules after extensive consultations with industry stakeholders. The move is set to significantly reshape India's burgeoning online gaming industry, which has already seen major platforms halt real-money offerings.
Maruti Suzuki Slashes Car Prices By Up to 24% to Boost Demand
Maruti Suzuki, India's largest automaker, has announced significant price reductions across its vehicle lineup, effective until December 31. The cuts, which go beyond recent GST reductions, are aimed at stimulating demand and encouraging two-wheeler owners to upgrade to cars. Prices for entry-level models like the S-Presso and Alto K10 have been slashed by up to 24%, while popular SUVs like the Fronx and Brezza also see substantial reductions. This aggressive pricing strategy is expected to impact the entire Indian auto market.
Families of Air India Crash Victims Sue Boeing in US Court
The families of four passengers killed in the June Air India crash in Ahmedabad have filed a lawsuit in a U.S. court against Boeing and parts manufacturer Honeywell. They allege that a faulty and poorly designed fuel cutoff switch led to the crash of the Boeing 787-8 Dreamliner, which killed 260 people. The lawsuit, filed in Delaware, claims both companies were aware of the switch's defect but failed to alert airlines, and it seeks compensatory and punitive damages for wrongful death.